Against the backdrop of rising inflation, Fed inaction and the prospect of further weakening of the dollar, the XAU / USD pair retains the potential for further growth (see "Fundamental Analysis and Recommendations")
In this case, the targets will be the marks 1963.00, 1976.00 (local highs), 2000.00.
In an alternative scenario, XAU / USD will resume the downward trend, and the breakdown of the short-term support level of 1893.00 will be the first signal for the pair to sell.
Support levels: 1900.00, 1893.00, 1870.00, 1830.00, 1820.00, 1800.00, 1700.00, 1685.00, 1635.00, 1560.00
Resistance levels: 1910.00, 1963.00, 1976.00, 2000.00, 2010.00
Trading recommendations
Sell Stop 1890.00. Stop-Loss 1912.00. Take-Profit 1870.00, 1830.00, 1820.00, 1800.00, 1700.00, 1685.00, 1635.00, 1560.00
Buy Stop 1912.00. Stop-Loss 1890.00. Take-Profit 1963.00, 1976.00, 2000.00, 2010.00
**) XAU/USD: Current Fundamental Analysis and Market Expectations
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