Gold Price Forecast: XAUUSD vulnerable amid firmer USD, key levels to watch – Confluence Detector Gold XAUUSD Confluences Commodities Fed
shows that Gold Price is teasing the crucial SMA200 one-day support at $1,842.
On the upside, powerful resistance appears around the $1,845 region, where the SMA5 four-hour, Fibonacci 38.2% one-day and one-week coincide. The meeting point of the Fibonacci 61.8% one-month and the pivot point one-day R2 at $1,863 will be a tough nut to crack for XAU bulls.The TCD is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points at a time.
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