The price broke through the range zone and moved higher, and most likely we'll see some pullback. I think the XAUUSD may form some sort of range pattern, such as a triangle where the market keeps bouncing between resistance and support, squeezed before retesting the resistance zone. Overall, I expect a choppy market because we have news in the NY session. However, if the market rejects the support level by forming a fake breakout, price action could potentially make new highs up to 2250 resistance level. My goal is the previous resistance zone around 2208
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Gold held just below $2,200 an ounce on Thursday, hovering near all-time highs as investors awaited a key US inflation reading that could influence the outlook for Federal Reserve monetary policy.
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