XAUUSD showed signs of recovery on Friday, but the price is stuck within the boundaries of a symmetrical triangle, which generally indicates market uncertainty. 
Key fundamental factors
The ADP, JOLTS, and unemployment claims reports pointed to weakness in the labor market, supporting expectations of two Fed rate cuts this year, which is positive for gold. Upcoming US-Iran talks are supporting demand for safe-haven assets, despite the conclusion of the Ukraine talks. Other central banks (the ECB and the Bank of England) easing policy has strengthened the dollar, putting pressure on gold.
Gold's attempt at recovery looks vulnerable. Although weak employment data and geopolitical risks provide support, the main counterforce remains the global rotation of capital in favor of the US dollar.
Technically, the market may have a chance to break through the correction resistance, but will there be support from traders?
Resistance levels: 4901, 5021, 5100
Support levels: 4811, 4751, 4670
I expect that before attempting a breakout, the market may try to test liquidity in the 4812 zone. However, if the market breaks through the resistance conglomerate and manages to close above 4901, then the market will be able to continue its growth towards 5000.
Otherwise, if 4812 does not hold the price, the market will close within the boundaries of a symmetrical triangle (flat).
Best regards, R. Linda!
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.