XAU/USD is under pressure as the USD moves higher amid escalating geopolitical risks in the Middle East and reduced market expectations for a sharp Fed rate cut in 2024.
For gold to recover, buyers' first target is Symmetrical Triangle support near $2,033, then $2,046 (21-day MA and resistance of the aforementioned Triangle). and the 2,050 USD mark.
For gold to recover, buyers' first target is Symmetrical Triangle support near $2,033, then $2,046 (21-day MA and resistance of the aforementioned Triangle). and the 2,050 USD mark.
Comment:
running + 70 pips
Comment:
Hit TP2 + 200 pips
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TP1: 2017
TP2: 2027
SL: 2000