XAUUSD Has gold reached the bottom?

🔸 Yesterday, the gold price touched 1900 and in the past, the price had reacted very strongly in this area.

🔸 XAUUSD is hitting its downside target as selling momentum dries up.

🔸 On the one-hour chart, gold prices hold below the Moving Averages (EMA) of 34 and 89.

🔸 Meanwhile, the Relative Strength Index (RSI) is in the bearish zone below 50, triggering bearish momentum for gold prices.

🔸 If the bears find a foothold below the $1,900 support, a fresh sell-off to the August 21 low of $1,885 is possible.

🔷 I am considering a Buy XAUUSD strategy at entry 1895-1900

🔷 And a Sell strategy when XAUUSD recovers at entry 1916-1918

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I'm consider Buy zone 1882-1885
SL 1880 and TP at 1900.

It is possible that the price will be tested a few times at the 1885 resistance before a recovery occurs

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🔸The worst situation is still happening, gold breaks out of the 1882-1882 resistance zone and approaches the 1872 price level.

🔸I have made provisions for this case, but still hope for some traction so that gold can recover and escape its current abnormal state.

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Inflation began to show signs of increasing, when auto workers in the US negotiated + went on strike (car prices increased).

The FED is expected to be "hawkish".

Control inflation => interest rates
increase => DXY flies, Gold continues to fall.

The US government faces the risk of shutdown => USD skyrockets.

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