XAUUSD cautiously above 2150 USD
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Overall, XAUUSD has experienced significant fluctuations, with an extended upward trend reaching over $2,180 after reaching a new all-time high of nearly $2,200 in early Asian trading on Monday. It is currently trading at $2,181, marking a 0.1% gain on the day.
Regarding the factors influencing gold prices, it is important to note that a slight increase in inflation has also led to a short-term decrease in gold prices. Therefore, it is crucial to be cautious about the impact of news events throughout the week.
As for the new outlook for XAUUSD: On the 1-hour chart, XAUUSD is currently receiving strong support around the breakout level of $2,150. Breaking below this level will lead to a significant price decrease, while maintaining this level will result in price increases.Expect a rejection around the $2190 resistance area and a retest of the 34.89 EMA.
Overall, XAUUSD has experienced significant fluctuations, with an extended upward trend reaching over $2,180 after reaching a new all-time high of nearly $2,200 in early Asian trading on Monday. It is currently trading at $2,181, marking a 0.1% gain on the day.
Regarding the factors influencing gold prices, it is important to note that a slight increase in inflation has also led to a short-term decrease in gold prices. Therefore, it is crucial to be cautious about the impact of news events throughout the week.
As for the new outlook for XAUUSD: On the 1-hour chart, XAUUSD is currently receiving strong support around the breakout level of $2,150. Breaking below this level will lead to a significant price decrease, while maintaining this level will result in price increases.Expect a rejection around the $2190 resistance area and a retest of the 34.89 EMA.
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