Gold price cracks $2,350 to hit new all-time highs
Gold price has picked up fresh bids and hit a new all-time high above the $2,350 barrier in Asian trading on Monday. Reducing bets for a June Fed rate cut and easing geopolitical tensions fail to deter Gold buyers amid expectations of a surge in central banks' Gold purchases.
From a technical perspective, weakness below the $2,265 area could expose the weekly swing low, around the $2,229-2,228 region, with the $2,250 level acting as an intermediate support. Some follow-through selling has the potential to drag the Gold price toward the $2,200 psychological mark, which is likely to act as a strong base. That said, a convincing breakdown through the said handle should pave the way for some meaningful corrective decline.
On the flip side, a move beyond the $2,280 area might confront some resistance near the Asian session peak, just ahead of the $2,300 round-figure mark. Acceptance above the latter will be seen as a fresh trigger for bullish traders and set the stage for an extension of the recent breakout momentum witnessed over the past two weeks or so.
🌐PLAN XAUUSD April 8
🔴Sell 2368 - 2370 stop 2373
🔴Sell 2360 - 2362 stop 2365
Buy 2293 - 2291 stop 2287
Resistance: 2355 - 2360 - 2365 - 238
Support: 2304 - 2300 - 2293 - 2285
Scalping strategies will be applied when the above resistance - support zones have entry signals
Note: Full TP and SL to be safe and win the market‼️
From a technical perspective, weakness below the $2,265 area could expose the weekly swing low, around the $2,229-2,228 region, with the $2,250 level acting as an intermediate support. Some follow-through selling has the potential to drag the Gold price toward the $2,200 psychological mark, which is likely to act as a strong base. That said, a convincing breakdown through the said handle should pave the way for some meaningful corrective decline.
On the flip side, a move beyond the $2,280 area might confront some resistance near the Asian session peak, just ahead of the $2,300 round-figure mark. Acceptance above the latter will be seen as a fresh trigger for bullish traders and set the stage for an extension of the recent breakout momentum witnessed over the past two weeks or so.
🌐PLAN XAUUSD April 8
🔴Sell 2368 - 2370 stop 2373
🔴Sell 2360 - 2362 stop 2365
Buy 2293 - 2291 stop 2287
Resistance: 2355 - 2360 - 2365 - 238
Support: 2304 - 2300 - 2293 - 2285
Scalping strategies will be applied when the above resistance - support zones have entry signals
Note: Full TP and SL to be safe and win the market‼️
Trade active:
📉 SELL XAUUSD zone 2371 - 2373. STOPLOSS 2377
📈 BUY XAUUSD zone 2328 - 2326. STOPLOSS 2322
Plan to trade CPI news in a few minutes
📈 BUY XAUUSD zone 2328 - 2326. STOPLOSS 2322
Plan to trade CPI news in a few minutes
Trade closed: target reached:
Amazing. BUY signal 2328-2326 had more than 170pips profit. BIG WIN FOR ME
