Gold prices have experienced a strong growth on November 24, supported by expectations that the Fed will lower interest rates next month. The weakening USD has made gold less expensive for holders of other currencies, thereby driving the price of gold higher. The market is increasingly confident that the Fed will continue to cut interest rates, creating a favorable environment for gold to rise.
Chart Analysis: On the H4 chart, XAU/USD is trading within a clear ascending wedge. After testing the 4,090 support zone, the price could rebound and aim for 4,200. The support at 4,090 remains intact, indicating that the upward trend could continue in the short term. A break above the resistance levels near 4,150 could open up opportunities for gold to continue its upward movement.
Conclusion: With a positive macro backdrop and strong technical indicators, XAU/USD may continue its upward momentum, with a target of 4,200 in the near term, as long as the current trend persists.
Chart Analysis: On the H4 chart, XAU/USD is trading within a clear ascending wedge. After testing the 4,090 support zone, the price could rebound and aim for 4,200. The support at 4,090 remains intact, indicating that the upward trend could continue in the short term. A break above the resistance levels near 4,150 could open up opportunities for gold to continue its upward movement.
Conclusion: With a positive macro backdrop and strong technical indicators, XAU/USD may continue its upward momentum, with a target of 4,200 in the near term, as long as the current trend persists.
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Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.