The XAUUSD market formed a range zone, then broke through it. XAUUSD also, as we can see broke the channel, which is a bullish sign. It might cause a pullback to retest the broken support level. If the price stays above this level, there is a higher chance that we will see the market at 2350 levels. However, if the price fails to update the highs, I expect it to roll back to the consolidation zone below. My goal is the resistance zone at around 2340
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Gold prices gained on Monday, deriving support from a soft U.S. dollar after a weaker-than-expected jobs report revived expectations that Federal Reserve will cut interest rates this year.
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