Analyze today's Gold market? Will there be a decrease?
Hello dear friends, nice to meet you again, let's discuss and strategize to specifically evaluate today's trends with me!
Looking ahead to news impact on gold: In the medium term, Gold could be significantly impacted by the USD rebound.
Meanwhile, Gold continues to trade in an expanding upward trend. Specifically, the short-term trend is to increase and the long-term precious metal commodity is also strongly supported by the US interest rate cut plan.
Gold purchasing power increased sharply not only from betting contracts on this commodity but also thanks to gold purchasing activities of central banks of countries showing signs of increasing when the world is unstable.
The H4 setup shows strong support from the market. A breakout from this level will see prices drop significantly, while a hold will result in an increase in price. It is expected that the price will recover after this correction and reach the trendline. Regarding technical analysis EMA 34.89 continues to expand, forecasting further uptrend in Gold price, just a correction down to this level and we could be set for a short recovery base such as mentioned, because the fundamentals are supportive of gold prices.
SELLING AROUND 2195 - 2220
SL: 2223.5
TP: 2185
XAUUSD BUY AROUND: 2185-2182
SL: 2179.5
TP: 2222
Looking ahead to news impact on gold: In the medium term, Gold could be significantly impacted by the USD rebound.
Meanwhile, Gold continues to trade in an expanding upward trend. Specifically, the short-term trend is to increase and the long-term precious metal commodity is also strongly supported by the US interest rate cut plan.
Gold purchasing power increased sharply not only from betting contracts on this commodity but also thanks to gold purchasing activities of central banks of countries showing signs of increasing when the world is unstable.
The H4 setup shows strong support from the market. A breakout from this level will see prices drop significantly, while a hold will result in an increase in price. It is expected that the price will recover after this correction and reach the trendline. Regarding technical analysis EMA 34.89 continues to expand, forecasting further uptrend in Gold price, just a correction down to this level and we could be set for a short recovery base such as mentioned, because the fundamentals are supportive of gold prices.
SELLING AROUND 2195 - 2220
SL: 2223.5
TP: 2185
XAUUSD BUY AROUND: 2185-2182
SL: 2179.5
TP: 2222
Trade closed: target reached:
The price has not adjusted but increased sharply until now. Buy for temporary profit
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