FX.co ★ king.zelda | XAU/USD, GOLD

Hello traders, it was a fun and very volatile week for GOLD, something we haven't seen in a while. Looking at the daily charts, it seemed like prices were falling without any pullbacks, although there were attempts to move higher, they were unsuccessful. Of course, along the way, many targets were hit, but there is still room for further downside as the old significant short initiative has become relevant again, yet to be fulfilled, leading to targets around 4400, with a clear downtrend already in place. It's worth noting that Powell spoke yesterday, so there might be a gap at the opening. Personally, I don't consider making trades from these price levels. However, I believe we could drop below 4400, and if we don't hold there, I will consider buying.