Gold Watching 3,850 Support as Dollar Weakens on UsGovt Shutdown
Hey Traders, in today’s trading session we are monitoring XAUUSD for a potential buying opportunity around the 3,850 zone. Gold is trading in an uptrend and currently in a correction phase, with price approaching this important support/resistance level.
Structure: Gold remains within an overall bullish structure and is also trading inside an ascending channel.
Key level in focus: 3,850 — a key support zone where buyers may look to step in.
Upside target: 3,930 — aligning with the channel resistance and potential area for bullish continuation.
Fundamentals: The ongoing US government shutdown is adding bearish pressure on the US Dollar. Given Gold’s negative correlation with DXY, this environment continues to support the bullish bias for Gold.
Trade safe,
Joe.
Structure: Gold remains within an overall bullish structure and is also trading inside an ascending channel.
Key level in focus: 3,850 — a key support zone where buyers may look to step in.
Upside target: 3,930 — aligning with the channel resistance and potential area for bullish continuation.
Fundamentals: The ongoing US government shutdown is adding bearish pressure on the US Dollar. Given Gold’s negative correlation with DXY, this environment continues to support the bullish bias for Gold.
Trade safe,
Joe.
Transaction en cours
seems like it was a fakeout and Gold heading towards the target Trade fermée: cible de profit atteinte
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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
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.