Closeview to XAUUSD, a Continuation Pattern

5月27日

In the minutes released by the FED last week, it was indicated that interest rates need to remain high for a while longer. The absence of new macroeconomic events and the issue of interest rates staying at these levels for a while caused gold to experience its most losing week of 2024 (Weekly -3.35%).

A rising flag is a continuation pattern, and a short trade can be opened again before it rises back up to around 2405.

Resistance:

2355
2370
2405
Support:

2325
2300
2270