Technical:-
Looking for buying opportunities, preferably at 1246.74, but current price 1252.24 seems like a strong support for XAUUSD. Would enter if price shows buying signal.
Disclaimer: Would enter XAUUSD in real time. My analysis is based on XAUUSD has broken 4h downtrend structure. DXY is looking bearish, which proves a weaken USD. Drawn support levels, where you can follow along to position your buy orders. I would enter if only price shows reversal candlestick at a lower time frame.
Fundamental:-
I wouldn't dismiss the idea where XAUUSD is correlated with China. China is currently fighting a one man trade war with U.S. People might leave for a safer assets. XAUUSD could be a favorite, boosting XAUUSD to a newer height.
I'm only a beginner in fundamental analysis, do let me know if I can improve in any ways. Thank you.
Looking for buying opportunities, preferably at 1246.74, but current price 1252.24 seems like a strong support for XAUUSD. Would enter if price shows buying signal.
Disclaimer: Would enter XAUUSD in real time. My analysis is based on XAUUSD has broken 4h downtrend structure. DXY is looking bearish, which proves a weaken USD. Drawn support levels, where you can follow along to position your buy orders. I would enter if only price shows reversal candlestick at a lower time frame.
Fundamental:-
I wouldn't dismiss the idea where XAUUSD is correlated with China. China is currently fighting a one man trade war with U.S. People might leave for a safer assets. XAUUSD could be a favorite, boosting XAUUSD to a newer height.
I'm only a beginner in fundamental analysis, do let me know if I can improve in any ways. Thank you.