XAUUSD fell due to profit-taking pressure at 2150 USD
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In general, XAUUSD experienced a strong price increase at the end of last week's trading session, specifically breaking through the $2130 mark in the short term. It is currently trading at a new high of $2145, after reaching $2152, marking a 0.1% decrease for the day. So, what are the reasons and factors that will impact gold next?
Regarding the influencing factors: XAUUSD continues to rise in today's trading session based on expectations of US monetary easing. Gold has the potential for significant short-term growth as the Fed will not allow the US economy to weaken. The Fed will soon cut interest rates, which supports gold.
Regarding the new prospects: On the 1-hour chart, XAUUSD is currently trading sideways around the $2150 resistance level. The current support level is $2135 (where the 34 EMA is active). Breaking below this level will lead to a significant price decrease, while maintaining this level will result in price increase. It is expected that a price decrease due to profit-taking pressure will occur soon, as indicated by the technical indicator RSI, which sho
In general, XAUUSD experienced a strong price increase at the end of last week's trading session, specifically breaking through the $2130 mark in the short term. It is currently trading at a new high of $2145, after reaching $2152, marking a 0.1% decrease for the day. So, what are the reasons and factors that will impact gold next?
Regarding the influencing factors: XAUUSD continues to rise in today's trading session based on expectations of US monetary easing. Gold has the potential for significant short-term growth as the Fed will not allow the US economy to weaken. The Fed will soon cut interest rates, which supports gold.
Regarding the new prospects: On the 1-hour chart, XAUUSD is currently trading sideways around the $2150 resistance level. The current support level is $2135 (where the 34 EMA is active). Breaking below this level will lead to a significant price decrease, while maintaining this level will result in price increase. It is expected that a price decrease due to profit-taking pressure will occur soon, as indicated by the technical indicator RSI, which sho
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Comment:
Comment:
We can see that despite the profit taking the price was quickly moving towards the daily highs. So, soon we will see prices drop significantly
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