Viatre

-Market Formation:New rounds of the “Trade War” have taken gold back to all-time highs, amid economic uncertainty and tensions. The asset has risen by a record 10% over the past week, in an almost unstoppable move, and if the political situation continues to worsen, possible targets could be at 3300-3500 levels by the end of this summer.-Forecast :After a consolidation phase in the 3200-3240 range, a continuation of the dominant upward movement towards the 3300 level is likely.-News Background:The main background is still focused on the fees imposed by the US, and the views of analysts are extremely contradictory, many believe that the new policy brings the US recession closer, while others believe that the “cooling” of the economy will allow the US to gain economic advantages, against the background of the global “overheating” and overcrediting of economies.

-Formation of the market:After the release of the announcement of the introduction of new trade duties in the U.S. and a number of positive economic activity indicators, the dollar is strongly strengthening, thus bringing the price of gold back to the imbalance level of the past growth of 2955, and in general setting a new downtrend, which reduced the position of gold by 5%.From the imbalance level a pin-bar was formed, which has already recovered its movement to the 3000 level, another test of the 2950 level is possible, followed by a rise.-Forecast:On the background of general uncertainty, it is likely that the price may go for a long consolidation, as the past fall may also indicate a capital outflow, which will lead to a new period of accumulation of positions.Possible return to the level of 3050, but the main movement is likely to occur in the range of 2950-3050- News background:The main expectations after the Fed speech are still in favor of strengthening the dollar, even despite the call of the U.S. President to reduce the key rate, most analysts still believe that the May meeting will end with an unchanged decision or increase.

-Market Formation:After updating new historical highs, gold corrects twice to the 3000 level, which indicates consolidation of large volumes at this level, thus forming a descending triangle on the hourly chart, and the imbalance level at 2955-2960.It is likely that the growth goals of significant market participants have been achieved, and now there is a fixation of volumes, for further upward movement will require new liquidity, passed in the imbalance zone.-Forecast:Main downside target to the level of 2955-2960, followed by testing 3000 already as a resistance level, and possible consolidation at this level.-News background:Expectations of new customs tariffs, strengthen the position of the dollar.Also, the settlement of geopolitical tensions, weakening the gold positions.