XAUUSD → Since the trend is still intact, gold may rise eve
keeps getting stronger following a minor adjustment. A zone of interest is ahead, and before the price begins to storm the ATH, it can correct to the support.
The escalating risks associated with Trump's tariff battle are driving up the price of gold. He is prepared to keep doing so in spite of the dangers that the US citizens also present. The dollar also received strong support from his statement regarding the Fed, "The Fed made the right decision last week to hold off on cutting rates," while gold, which is on its way to the highs, was unaffected. The tendency is continuing, and as the risks associated with the metal increase, so does interest in it. The Fed announcement and US and Chinese economic data are the main topics.
Technically, the preceding ATH-2790 serves as a crucial support, and gold may test this region once more before extending its upward trajectory. However, it is worthwhile to monitor 2800 in the near future.
Support levels - 2795, 2790
Resistance levels - 2802, 2808
Before the price decides to attack this level once more to consolidate above the support before rising further, there can be a slight correction from 2802 or from the 0.7-0.79 fibo.
The escalating risks associated with Trump's tariff battle are driving up the price of gold. He is prepared to keep doing so in spite of the dangers that the US citizens also present. The dollar also received strong support from his statement regarding the Fed, "The Fed made the right decision last week to hold off on cutting rates," while gold, which is on its way to the highs, was unaffected. The tendency is continuing, and as the risks associated with the metal increase, so does interest in it. The Fed announcement and US and Chinese economic data are the main topics.
Technically, the preceding ATH-2790 serves as a crucial support, and gold may test this region once more before extending its upward trajectory. However, it is worthwhile to monitor 2800 in the near future.
Support levels - 2795, 2790
Resistance levels - 2802, 2808
Before the price decides to attack this level once more to consolidate above the support before rising further, there can be a slight correction from 2802 or from the 0.7-0.79 fibo.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.