ArmanShabanTrading |🔴 XAUUSD : CPI's effect on $GOLD

Weekly analysis update : The Last TA of Gold is still valid , Which was (Feb 7) : As you can see, according to my expectation at the beginning of last week, the price was rejected from $1960 and with a strong drop, it was able to close at $1865 on Friday And this week has recorded the lowest price of $1860 so far, this means more than 1000 pips of price drop and exactly based on the analysis that has been updated for several months, the previous analysis is still valid! Cheers !

(Jan 31) TA : According to the intended scenario drawn on the chart, finally, with the beginning of this week, the price of gold after 8 weeks of bullish rally without significant correction has been able to face correction and the price has fallen from $1949 to $1901, we have to see. In the coming week, can the price penetrate below $1896 and close below it or not! If the weekly candle closes below $1896, we can expect further correction, that is, up to $1833 as the first target!

The MAIN (Original) TA : According to the intended scenario drawn on the chart, finally, with the beginning of this week, the price of gold after 8 weeks of bullish rally without significant correction has been able to face correction and the price has fallen from $1949 to $1901, we have to see. In the coming week, can the price penetrate below $1896 and close below it or not! If the weekly candle closes below $1896, we can expect further correction, that is, up to $1833 as the first target!

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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 02.14.2023
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The $1833 target has been reached 😄🤟🏼, I hope you have made the most of this interesting weekly analysis, the price has fallen from $1960 to $1833 with a total of more than 1300 pips and has reached its very important weekly target. The important support range in the weekly TF is from $1774 to $1833, in case of bullish movement, the first target will be $1853! This analysis will be updated!