XAU | Global News Accelerates Gold's Ascent

👋 Hello, traders!

After reaching the recent targets for XAU at 1960.00 and 1980.00, the news landscape isn't allowing the asset to correct and continue its bullish trend. The escalating situation in Israel and growing panic among investors are pushing XAU for further growth. Upon breaking the resistance level of 1990.00, we can anticipate moves towards 2010.00 and 2020.00. I recommend considering buys within the 1993.00-1995.00 range, expecting a potential profit of 0.75% to 1.25%. A recommended SL is set around ~1970.00.

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DISCLAIMER:
This idea is provided strictly for informational and educational purposes and is not a trading recommendation. Make trading decisions based on your own analysis.

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In the event of a stop loss trigger, the conditions for growth remain intact, albeit the trade carries inherent risks. It's prudent not to allocate a large volume to this trade due to its risky nature. Purchases should be targeted within the range of 1970.00 to 1980.00 with a new stop loss set around 1960.00.

Should the price body breach 1966.35, it would warrant the cancellation of purchases. The position stipulates a cautious approach, ensuring risk mitigation while aiming for potential gains.

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