GOLD Price will Reject From Resistance Area

24 Oca

Hi traders what's do you think about GOLD given suggestion in comments.

XAUUSD price action with a focus on key levels. Based on your outlook, it seems like you're anticipating some pullback due to the hawkish stance from the Bank of Japan, and you're considering the upcoming economic data releases, like the US GDP and Fed's decision.

Rejection Point: 2789 - This seems like a crucial resistance level. If the price tests this and fails to break above, a rejection could lead to a downside move.

Current Price: 2776 - This is just below your resistance zone, and price might move toward 2789 to test the resistance before pulling back.

Support Levels:

2760: A decent support level; if price dips here, it might find some buyers stepping in.

2740: A second support, which could be key for holding further declines.

Considering the data releases on Friday (US GDP and Fed decision), there could be some volatility around these levels.

What are your thoughts on the potential outcomes from the Fed's decision? Do you see them leaning more towards tightening, or do you think a pause might result in further strength for the USD?

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24 Oca

İşlem aktif

Trade from 2785 to 2770 150 Pips Done.

27 Oca

İşlem kapandı: hedefe ulaştı

Trade from 2785 to 2753 Sell position gave us 300 Pips Done.