$XAUUSD - Might jump to $1800

٤ نوفمبر ٢٠٢٢

Hi guys! 👋🏻

🔔 Gold hit $1670 today after the release of NFP and negative employment data. China’s plan to resume flights could bolster weakening of the US Dollar and support the continuation of this bullish run.

🔔 XAUUSD made an important test and a breakout from the dynamic resistance of March 2022. The $1615 - $1617 support level withheld a downtrend pressure backing a formation of a triple bottom pattern.

🔔 As of now, XAUUSD is traded at $1674 and is testing a major resistance at this level. To close the trading week, Gold might retrace from these levels near $1655, gain more power and try to break the $1674 resistance later.

🔔 When the uptrend continuation is confirmed, and gold closes above $1674, look for resistances at $1720 and $1801.


✊🏻 Good luck with your trades! ✊🏻
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