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  • Bulls keep hold of the reigns at the start of the week with the price  holding $1,730.
  • USD could be due for a significant correction on the daily chart.  
  • Both hourly and daily resistances are in focus.  

Gold bulls seek a test of hourly resistance ahead of a break of the daily 21 EMA.

The following illustrates the market structure and where the next opportunity could come of a bullish surge.  

Gold, daily chart

The price is holding daily support and there are prospects of an extension of the current correction.  

Gold, 1-hour chart

DXY daily chart

Meanwhile, there are bearish prospects at least for the meanwhile, as we approach quarter-end and the price as measured by the DXY starts to correct.  

If the bulls can hold and get above the current resistance, then there are meanwhile expectations of a test of prior resistance.