XAUUSD Potential Forecast | 21st March 2023

Fundamental Backdrop
1. Plenty of instability in the market due to the SVB crisis and other banks being heavily affected by it.
2. GOLD, as a safe haven asset, flew to the highs to 2000 and is currently rejecting.
3. This is fuelled by the instability with the USD.

Technical Confluences
1. Price could potentially retrace back to the H4 support level at 1959.24 before heading back up.
2. Price went parabolic to the 2000 regions.
3. Bullish pressure is still intact and will be looking for longs.

Idea
Looking for price to break new highs beyond 2065 and this is just the beginning.






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