XAUUSD | Perspective for the new week | Follow-up details

The Greenback remains firm and strong ahead of the FOMC meeting this week. During the course of last week's trading, we witnessed a significant breakdown of the demand zone at around the $1,700 area to incite a bearish signal. So, is the price going to retest the $1,700 zone to confirm a selling momentum or will there be an opportunity to buy right above the $1,700 this week?

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I am still monitoring price action - is the price going to respect the demand zone to signal a bullish momentum or is there going to be a breakdown of the demand zone to signal a trend continuation to the downside?

Good morning

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Multiple rejections of the demand zone resulted in a breakout of $1,690. I am moving my stop-loss to break even. Another opportunity to re-enter above the $1,690 could happen if a retest of the structure happens.

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Breakout/retest of structures happens as the price comes back to the entry zone. Doing a re-entry right above the $1,670 (a typographical error yesterday - its $1,670 not $1,690)

Good morning

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Today is US Monetary policy and FOMC... Buy-stop triggered as I have moved my stop to break even.

Good morning

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After been stopped out after the FOMC; re-entry running in profit.

Move stop loss

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Continued rejection of the demand zone insinuates a potential bullish expectation

Good morning