XAUUSD - Holds gains on disappointing US Retail Sales

Gold market is steadily increasing but lacks new price momentum as US consumers seem to be spending less. Despite retail headline and core sales falling short of expectations, some economists note that solid adjustments in May compensate for some disappointments.

Analysts highlight that consumer spending remains reasonable and will continue to support economic activities. The August futures gold price traded at $1,968, up 0.63% for the day.

Comment:

🐾 SELL XAUUSD zone 1990 - 1987

⚠ Stop Loss : 1995

💲 Take Profit 1: 1975
💲 Take Profit 2: 1965

Trade active:

⭐️SELL Runnings + 80pips 💲💲💲

Comment:

🐾 BUY XAUUSD zone 1981 - 1978

⚠ Stop Loss : 1973

💲 Take Profit 1: 1990
💲 Take Profit 2: 1995

Comment:

In technical terms, gold futures speculators have a short-term technical advantage as prices are in a new uptrend on the daily chart. Their next price target is to close the August futures contract above a strong resistance level at $2,000. On the other hand, bears' short-term price target is to push the futures contract below a solid technical support level at $1,900. The first resistance levels seen overnight were at $1,989 and then $2,000. The first support levels seen on Wednesday were at $1,973 and then Tuesday's low at $1,958.

Comment:

🐾 BUY XAUUSD zone 1959 - 1962

⚠ Stop Loss : 1956

💲 Take Profit 1: 1970
💲 Take Profit 2: 1980

Trade active:

⭐️BUY Runnings + 30pips 💲💲💲