XAUUSD Strong Bullish trend
Updated
**Monthly Chart**
XAUUSD monthly candle closed as doji due to the sideway movement of this pair between High 2387.78 and low 2286.83 levels. This has created indecision bias in the market. However, due to geopolitics reasons, this pair has strong momentum to move higher in the next few months. Therefore, we shall assess this pair near supply and demand zones for better risk-to-reward trades.
Last week ended on 5th July, has moved XAUUSD price action above the previous month's doji candle. This confirmed a continuation of the bullish trend. The Next target is around 2,450 level.
**Weekly Chart**
XAUUSD weekly candle closed as a bullish engulfing after testing the demand zone from the previous week's key reversal which has tested the manipulation candles around the demand zone on the weekly chart.
**Daily Chart**
Due to the US NFP and unemployment rate released on Friday, XAUUSD closed as a strong bullish candle. This week the trend is expected to continue bullish. However, any retracement will be a good buying opportunity from a lower time frame. Next Target around 2,450 and then 2,500 level.
XAUUSD monthly candle closed as doji due to the sideway movement of this pair between High 2387.78 and low 2286.83 levels. This has created indecision bias in the market. However, due to geopolitics reasons, this pair has strong momentum to move higher in the next few months. Therefore, we shall assess this pair near supply and demand zones for better risk-to-reward trades.
Last week ended on 5th July, has moved XAUUSD price action above the previous month's doji candle. This confirmed a continuation of the bullish trend. The Next target is around 2,450 level.
**Weekly Chart**
XAUUSD weekly candle closed as a bullish engulfing after testing the demand zone from the previous week's key reversal which has tested the manipulation candles around the demand zone on the weekly chart.
**Daily Chart**
Due to the US NFP and unemployment rate released on Friday, XAUUSD closed as a strong bullish candle. This week the trend is expected to continue bullish. However, any retracement will be a good buying opportunity from a lower time frame. Next Target around 2,450 and then 2,500 level.
Note
Exactly as expected. We will wait for a release of CPI for a continuation and clear direction.Note
14.07.2024 (Outlook)Expect a corrective structure before XAUUSD continue to the upside. This should provide us another buying opportunity this week at least to break 2,450 level and then moves towards 2,500 level very soon.
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