XAUUSD is moving sideways, probably forming a compression channel like a triangle pattern. On the daily timeframe, price acton created a bullish candle with wick, which means bears tried to push it lower. I think the market will retest the higher high. If the market breaks the previous high, it can open the road to resistance at 2300. My goal is the resistance zone around 2285.000
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Gold prices rose to a fresh record high on Tuesday as demand from momentum-following funds offset a strong U.S. dollar and the possibility of higher-for-longer U.S. rates.
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