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Gold Watching 3,850 Support as Dollar Weakens on UsGovt Shutdown

842
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.
עסקה פעילה
seems like it was a fakeout and Gold heading towards the target
עסקה סגורה: היעד הושג

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