Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will probably NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.
Gold is surviving its first major retracement, at least in H4 chart. It’s bouncing off 1490 after a bout of long overdue profit-taking.
Uncertainty should be returning fairly soon as XAUUSD tries to (probably) re-test the 1505 ceiling.
Still in the background: Trade wars. Safe haven position adjustments. Falling sovereign interest rates. And Trump with his tweets, trying to distract left, right, and center.
The following are intraday charts for major pairs, followed by a closer look at the XAUUSD charts.