FX.co ★ XAU/USD, GOLD

Hello traders, The price of GOLD started the trading week with an increase. Overnight, it dropped to the level of 4415, but then the bulls took control and now trading is happening around 4540. Earlier, in my forecasts, I mentioned that on the weekly chart, the price formed a bullish pin bar, which could be activated if the level of 4650 is broken. This level is currently a key reference point for me. If trading continues above it, the priority will be firmly in favor of buying the asset with the expectation of reaching the minimum target around the psychological level of 5000. For now, I remain on the sidelines, observing how the situation unfolds. I am waiting for the start of the American session and Powell's speech.