9 January 2024 the price has matched my most recent prediction exactly. It has reached the area I had targeted earlier. Currently, the market is experiencing a complex pullback. This pullback is moving towards the resistance area. It started after the market broke free from a specific range zone. This pullback is actually a correction. It moves in the opposite direction to the existing trend.
XAUUSD Context
Today, there are no major news events expected to have a big impact on the market. Because of this absence of significant news, I believe the market might show a unique kind of pullback. This pullback could occur in two distinct phases. Following these phases, the market is likely to continue its downward trend. If the market begins to fall from the highest point it reached yesterday, we can anticipate it bouncing back from that high point.
XAUUSD Trading Idea for 9 January 2024
I have set a specific goal for myself. My goal is to target the support level. This support level is located at around 2026.40.