Gold Spot / U.S. DollarUpdated GOLD ALERT WITH CASHTRAINFX
Bearish Scenario:
Key Level: Watch for a break below 2615.
Potential Target: A move toward 2590.
Strategy: Enter short positions near 2615 with stop-losses slightly above this level to protect against quick reversals.
Focus: Pay attention to macroeconomic factors, especially interest rates and inflation, to gauge if downside momentum will continue.
Bullish Scenario:
Key Level: A break above 2625 could lead to further upside.
Potential Target: Resistance around 2650.
Strategy: Wait for a confirmed breakout above 2625 before entering long positions, and place stop-losses below the breakout level to limit risk in case of a false move.
Focus: Track economic indicators to confirm trend direction before committing to a long position.
Key Level: Watch for a break below 2615.
Potential Target: A move toward 2590.
Strategy: Enter short positions near 2615 with stop-losses slightly above this level to protect against quick reversals.
Focus: Pay attention to macroeconomic factors, especially interest rates and inflation, to gauge if downside momentum will continue.
Bullish Scenario:
Key Level: A break above 2625 could lead to further upside.
Potential Target: Resistance around 2650.
Strategy: Wait for a confirmed breakout above 2625 before entering long positions, and place stop-losses below the breakout level to limit risk in case of a false move.
Focus: Track economic indicators to confirm trend direction before committing to a long position.
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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.