GOLD → Testing 3700. What to expect from the price going forward
XAUUSD continues to rally. Ahead lies the psychological barrier of 3700, where the market may form profit-taking ahead of Tuesday and Wednesday's news...
Gold is testing 3700. The bullish trend remains unshakable thanks to a combination of macroeconomic and geopolitical factors.
Expectations of Fed policy easing: There is a high probability of a 25 bps rate cut (possibly even 50 bps) as early as this week. Trump's pressure on Powell reinforces these expectations.
Stagflation risks: Slowing growth amid steady inflation increases the appeal of gold as a hedge.
Risks: Profit-taking: After a sharp rise, a short-term correction is possible in the psychological target zone of 3700. Retail sales data (today): Weak data will support gold, while strong data may temporarily strengthen the dollar. Fed decision (tomorrow): Even if the rate is lowered, a “sell on the fact” reaction is possible.
Resistance levels: 3700, 3710
Support levels: 3685, 3675, 3657
Technically, since the opening of the session, gold has lost part of its daily ATR, and the upward movement may be zigzag-shaped, especially ahead of the news. I expect a correction from the market to 3685-3675 with the aim of rebounding upwards...
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.