Gold(XAUUSD) Prepares For Last Bullish Leg

The precious metal which we have been buying since the end of 2018 is heading towards its final resistance zone at 1345 which will be the last highest level to be reached by price before heading back towards the 1220 long term support zone.

We have written this article due to a lot of questions on Golds direction due to the previous NFP results which shew a strong dollar making a lot of traders get into the idea of Selling Gold (XauUsd). we do respect fundamental analysis a lot but we have to take also a special note of Institutional Order Flow to fully understand the movement of the markets, I will still give you a clear understanding of institutional order flow in our upcoming articles, I will clearly explain why is it more important than Fundamental Analysis and Technical analysis and why you should know it.

Technical View on XauUsd

XauUsd has shown some pullbacks from the last Non Farm Payrolls which has caused price to push low towards the 1301 support zone and have shown some strong buys pushing it back to the 1310 critical level.

Looking into the 4 hour time frame you will notice that price has formed a bullish pin bar after the rally from 1302 to 1310 area which shows a great rejection of lower price levels. another thing that confirms our buy setup is the bullish flag (falling wedge) which formed from last Fridays Non Farm Payrolls.

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