Hello dear friends, we are taking a look at XAU/USD - Gold
Currently we have seen after the huge correction we had below the 4,500$ levels we continue to follow up with the support and interest from the buyers!
Currently there is a very large uncertainty on the markets :
Potential U.S. Strike over Iran
Current U.S. GDP missing the mark with more than 1%
Current removal of Donald Trump's tarrif's and the newly emposed 15% trade tariff on ALL countries doing trade with the U.S.
The mediocre Earning Reports from a few of the Major Players on the stock Market
Recent news should give us a positive indication that Investors would go away from the U.S. dollar and proceed to look into the Safe Heaven - Gold!
Currently we have a break through out of a strong resistance zone which is the 5,000$ - 5,100$ mark , which gives us a positive formation of a Bullish flag based on the RSI & MACD correlation. This bull flag should take us to the previous ATH at the level of 5,600$
P.S. We would recommend covering Gold's price action during the Asian session because we have seen an absurdly high volume during the start off the Asian session for the past few months.
Entry - 5,100$
Target - 5,600$
SL: Below the resistance area - 4,890$
Current RR for this trade close to 1:3
As always my friends happy trading! I am curious about your thoughts about Gold's next move, you can share it with me in the comment section!
Currently we have seen after the huge correction we had below the 4,500$ levels we continue to follow up with the support and interest from the buyers!
Currently there is a very large uncertainty on the markets :
Potential U.S. Strike over Iran
Current U.S. GDP missing the mark with more than 1%
Current removal of Donald Trump's tarrif's and the newly emposed 15% trade tariff on ALL countries doing trade with the U.S.
The mediocre Earning Reports from a few of the Major Players on the stock Market
Recent news should give us a positive indication that Investors would go away from the U.S. dollar and proceed to look into the Safe Heaven - Gold!
Currently we have a break through out of a strong resistance zone which is the 5,000$ - 5,100$ mark , which gives us a positive formation of a Bullish flag based on the RSI & MACD correlation. This bull flag should take us to the previous ATH at the level of 5,600$
P.S. We would recommend covering Gold's price action during the Asian session because we have seen an absurdly high volume during the start off the Asian session for the past few months.
Entry - 5,100$
Target - 5,600$
SL: Below the resistance area - 4,890$
Current RR for this trade close to 1:3
As always my friends happy trading! I am curious about your thoughts about Gold's next move, you can share it with me in the comment section!
Trade aktif
The trade is running quite smoothly as of the recent market conditions, we are up 150$ on the movement since we posted the analysis , we have some more to walk ahead of us. Be posted and follow up for further updates!
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Pernyataan Penyangkalan
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Join my Telegram community for Informative financial market analysis and personalized inputs. Multinational team of experts providing helpful information and analysis in these dynamic times. Let's grow together!
t.me/+qpoidXUFlIliNTc0
t.me/+qpoidXUFlIliNTc0
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.