XAUUSD: Opportunity to Rise from Support Zone!
Updated
XAUUSD has the potential to rebound from the key support zone of 2,610.967 – 2,648.431, especially if demand for gold as a safe-haven asset increases.
If it breaks above the EMA resistance at 2,647.996, the price may continue moving higher. The strength of the USD remains a major factor, but any sign of rate easing from the Fed or escalating geopolitical tensions could strongly boost gold.
Many central banks still aim to diversify assets with gold to reduce reliance on the USD. The Fed and other central banks might continue easing monetary policy, creating opportunities for gold to increase in value.
The U.S. Core CPI index will be released mid-week, providing the Fed a chance to assess whether inflation is aligning with the 2% target.
If it breaks above the EMA resistance at 2,647.996, the price may continue moving higher. The strength of the USD remains a major factor, but any sign of rate easing from the Fed or escalating geopolitical tensions could strongly boost gold.
Many central banks still aim to diversify assets with gold to reduce reliance on the USD. The Fed and other central banks might continue easing monetary policy, creating opportunities for gold to increase in value.
The U.S. Core CPI index will be released mid-week, providing the Fed a chance to assess whether inflation is aligning with the 2% target.
Trade active
Join us for free trading signals on Telegram: t.me/+K_P08tUr1YpjZTE1
🚀 Win rate up to 85%
📊 Accurate and timely signals
⏱️ Super fast updates, never miss an opportunity
🚀 Win rate up to 85%
📊 Accurate and timely signals
⏱️ Super fast updates, never miss an opportunity
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.