Gold Spot / U.S. DollarUpdated GOLD ALERT WITH CASHTRAINFX
Bearish Forecast:
If XAUUSD breaks below the 2563 support, there's a potential move towards 2518.
This would indicate a bearish trend, so watching for macroeconomic factors or news that could drive this downward movement is crucial.
Bullish Forecast:
A break above 2589 could signal bullish momentum, with the next resistance target at 2617.
If this happens, it may open up more buying opportunities.
Strategic Suggestions:
Bearish Strategy: Shorting near 2589 with stop-losses slightly above that level might protect against sudden reversals.
Bullish Strategy: For a breakout above 2589, wait for confirmation before entering, using stop-losses below the breakout to mitigate risk.
If XAUUSD breaks below the 2563 support, there's a potential move towards 2518.
This would indicate a bearish trend, so watching for macroeconomic factors or news that could drive this downward movement is crucial.
Bullish Forecast:
A break above 2589 could signal bullish momentum, with the next resistance target at 2617.
If this happens, it may open up more buying opportunities.
Strategic Suggestions:
Bearish Strategy: Shorting near 2589 with stop-losses slightly above that level might protect against sudden reversals.
Bullish Strategy: For a breakout above 2589, wait for confirmation before entering, using stop-losses below the breakout to mitigate risk.
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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.
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.