Natural pull-back yesterday, propelled by profit taking, following the break above both the 1D MA50 and the March Lower Highs trend-line.
So far it looks like a Bull Flag (as 1D remains neutral on RSI # 52.952, MACD # -1.830, ADX # 14.581) with the 4H MA200 (1,660.69) supporting.
As long as it does, the trade is a buy, targeting the 1,729.50 - 1,735 Resistance Zone of September.
I will open a sell only if the 4H MA50 breaks (1,652.12), in which case will target 1,620 again.
Fundamentally, it is all about Thursday's U.S. CPI (critical inflation reading for Fed's policy) so expect high volatility starting from tomorrow's U.S. session.
All prices mentioned on my analysis are on XAUUSD.
So far it looks like a Bull Flag (as 1D remains neutral on RSI # 52.952, MACD # -1.830, ADX # 14.581) with the 4H MA200 (1,660.69) supporting.
As long as it does, the trade is a buy, targeting the 1,729.50 - 1,735 Resistance Zone of September.
I will open a sell only if the 4H MA50 breaks (1,652.12), in which case will target 1,620 again.
Fundamentally, it is all about Thursday's U.S. CPI (critical inflation reading for Fed's policy) so expect high volatility starting from tomorrow's U.S. session.
All prices mentioned on my analysis are on XAUUSD.