Hey Traders, in today's trading session we are monitoring GOLD for a buying opportunity around the 4,720 zone. GOLD is trading in an uptrend and currently is in a correction phase in which price is approaching the trendline support around the 4,720 support and resistance area.
From the macro side, gold remains well supported by a weaker US Dollar, as markets continue leaning into a potential breakthrough in the next round of US-Iran talks. The fading safe-haven premium in the dollar, combined with softer oil prices and easing inflation concerns, is helping bullion stay resilient near monthly highs despite the broader risk-on tone.
At the same time, this pullback into the 4,720 demand zone fits the current corrective structure perfectly. While peace-talk optimism has improved sentiment, the market is now heavily priced for a positive outcome, leaving little room for disappointment. Any negative surprise from the talks over the next 48 hours could quickly revive safe-haven flows and accelerate gold higher from this support region.
As long as price respects the 4,720 support zone, the broader bullish structure remains intact, and the path of least resistance continues to favor upside continuation.
Trade safe, Joe.
From the macro side, gold remains well supported by a weaker US Dollar, as markets continue leaning into a potential breakthrough in the next round of US-Iran talks. The fading safe-haven premium in the dollar, combined with softer oil prices and easing inflation concerns, is helping bullion stay resilient near monthly highs despite the broader risk-on tone.
At the same time, this pullback into the 4,720 demand zone fits the current corrective structure perfectly. While peace-talk optimism has improved sentiment, the market is now heavily priced for a positive outcome, leaving little room for disappointment. Any negative surprise from the talks over the next 48 hours could quickly revive safe-haven flows and accelerate gold higher from this support region.
As long as price respects the 4,720 support zone, the broader bullish structure remains intact, and the path of least resistance continues to favor upside continuation.
Trade safe, Joe.
Trade ist aktiv
Decent pullbacks towards the trend!
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Free Telegram Group:
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.