Effect of Russia invading Ukraine on the Gold Market as Gold remains bullish as the war intensify

Late last year I started trading forex with small account size as i needed to diversify my trading portfolio as my trading strategy was no longer in my favour and hence i hard to go back to the root of traditional trading which is the forex market. As we all know the cryptocurrency market doesn't closes but that of the forex market does which i think gives the traders sometime to evaluate themselves and cool off from over trading the market.

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So i decided to move some funds from my cryptocurrency trading account after am down about 90% to trial out my luck on the forex market trading just four assets Gold, Nas100, CRUDE and Brent Crude because i didn't want to over leverage my trades, for now am not looking at the currency pairs that's not my interest at the moment.

The last two week has a crazy one for Gold traders, with the price starting last two week at 1890, reaching a high of almost 15000 pips at $2000 higher and strongly reversing at the end.
This price development leaves a long-tailed weekly Pin Bar on chart and, despite this, the bullish engulfing of Gold for the upcoming sessions is still soaring high as the invasion of Russia on Ukraine intensify most FOREX traders are swapping their fiat too gold as the currency war is also on going and looming the economy with inflation taking the lead at the fore front.

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On a shorter time frame (h4 posted chart) we can see that 1944-1966 is very strong confluence support and as long as this level is intact there is a high chance for further gains, looking at the relative strength index in the 4hrs charts the market is currently over sold hence a pull back is expected on the price of Gold.

In conclusion, dips should be bought within support range and bulls can target 2050-2100 resistance zone .

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