GOLD → A very strong uptrend may get its continuation

há 3 dias

XAUUSD is rising due to high geopolitical and political risks. A strong bullish trend is forming, within which the price tests the strong resistance 2726 and draws a false break of the resistance...



The rise is shaping up more on the back of Trump's threats on tariffs, adding to the risk-negative sentiment in the markets. Trump has proposed imposing tariffs on Mexico and Canada, as well as the EU and China, if a trade agreement is not reached. These threats are supporting demand for gold as a safe-haven asset. However, the strengthening dollar and expectations of Fed rate cuts are limiting further upside for gold. Trading in the coming days will depend on the general market atmosphere and Trump's tariff discussions.
Technically, a false break of such a strong resistance could temporarily slow the growth and move the price into correction or consolidation, but there are nuances of technical...

Resistance levels: 2721, 2726, 2761
Support levels: 2703, 2697, 2690

At the moment it is worth paying attention to 0.5 fibo (2717) and 0.7-0.79 fibo. These are quite strong and important liquidity zones that can stop the correction and bring gold back to the uptrend. A retest of the local high of 2726 - 2732 will hint at the readiness of the metal to go even higher.

Regards R. Linda!

há 3 dias

Trade fechado: objetivo atingido

False breakdown of 0.5 fibo activates aggressive buying.
Price reaches the channel resistance (our target :) )