GOLD (XAUUSD): Your Trading Plan For Next Week 🥇

Hey traders,

Gold is currently stuck between two major structures composing a horizontal range on a daily.
From one side, we have 1726 - 1736 horizontal supply area
and from another, 1680 - 1689 horizontal demand area.

The price is currently approaching the upper boundary of the range.
To short from that with a confirmation, watch a rising trend line on 4H time frame.
We need a 4H candle close below that to confirm the breakout.

Then the market will most likely start falling.
Initial target for sellers will be 1706 support.

Alternatively, bullish breakout of the resistance of the range will trigger a bullish continuation to Resistance 2.

Good luck next week, traders!

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