GOLD → The trend is not broken, gold could go even higher

3 Şub

XAUUSD continues to strengthen after a small correction. There is a zone of interest ahead and the price may form a correction to the support before it starts to storm ATH



Gold is rising due to the growing risks on the background of the tariff war started by Trump. Despite the risks posed by the US residents as well, he is willing to continue to do so. In addition, his comment about the Fed, “The Fed made the right decision last week to hold off on cutting rates” gave aggressive support to the dollar, but that didn't break gold, which is heading for the highs. The trend is not broken and interest in the metal due to growing risks is also growing. The focus is on US and Chinese economic data as well as Fed statements.
Technically, the support in the form of the previous ATH - 2790 plays a key role and gold may test this area once again before continuing its growth. But, in the short term, it is worth keeping an eye on 2800.

Support levels: 2795, 2790
Resistance levels: 2802, 2808

There may be a small correction from 2802 or from 0.7-0.79 fibo before the price decides to storm this area again to consolidate above the support before rising further.

Regards R. Linda!

3 Şub

İşlem kapandı: hedefe ulaştı

Gold reaches uptrend channel resistance