GOLD → MA-200 False Breakdown. Will the growth continue?

1 Eki 2024

XAUUSD is testing the support of 2625 forming a false break of SMA-200 as part of the correction. The range boundaries are confirmed and the market, after retesting the support, changes its target...

Globally and locally the trend is bullish, this is facilitated by the situation in the Middle East, which is becoming more complicated every day.... In addition, US dollar buyers took a breather before the news, and US Treasury yields reversed the previous rise amid deteriorating risk sentiment, which limited the decline in the gold price.
Traders await PMI from ISM, and JOLTS survey data, which could signal a further cooling of the US labor market
Yesterday Powell said:
- Fed in no rush to cut rates quickly, will be data-driven. If the economy is as expected, two more 0.25% cuts are possible. Accordingly, the course of interest rate cut st

Support levels: 2643, 2634, 2624
Resistance levels: 2659, 2673, 2685

Gold still enjoys huge interest. Buyers are defending key support zones. A change of sentiment is forming and I would expect a continuation of the rise from the key support zones towards the zones of interest at the moment. The news may increase volatility and form a shakeout....

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!

1 Eki 2024

İşlem kapandı: hedefe ulaştı

Target reached! +280 pips!