GOLD → An attempt to break H4-D1 support. Fear?

XAUUSD is updating the low. The breakdown of the structure confirms the dominant bearish potential. But, the price is moving reluctantly in anticipation of the news. There could be a retest of resistance (trap) before falling.

The dollar is strongly bullish. The US market situation is difficult and regulators have hinted more often about rate hike, inflation is uncontrollably rising and this is a negative scenario for the markets.
The situation in the Middle East is heating up: the Israeli army continues to pull heavy military equipment to the borders of Lebanon. The intensification of the conflict will increase the interest in gold as a safe-haven asset.
At the moment, technically, gold is in a selling zone, as the price is breaking the strong support area H4-D1. A retest is possible before the subsequent fall (if the overall fundamental environment does not change dramatically).

Resistance levels: 2326, 2332, 2341
Support levels: 2315, 2306, 2297

Traders are waiting for the US GDP, which will be released tomorrow. Traders expect the DXY to continue its northward course, accordingly, the expensive dollar on gold may have a negative impact...

Regards R. Linda!

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Trade closed: target reached:

The second target has been reached. A rebound is being formed. We are waiting for a retest of 2305-2306 resistance and watch the price reaction to this area.

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Consolidation is forming below 2300....

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