Gold prices turned lower and fell to 1,992, hitting a three-day low. In the recovery, climbs back above 2,000 on a volatile Friday amid a resurgence in the US Dollar.
From a technical perspective, nothing seems to change for gold prices and the short-term bias remains in favor of bullish traders. Therefore, some further strength back to retest all-time highs, around the 2,070-2,075 area, looks like a distinct possibility. On the other hand, any meaningful pullback could find good support near the 2,020 area ahead of the 2,014-2,013 area. However, the drop is likely to attract new buyers near the psychological 2,000 mark, which should help limit losses for XAU/USD near the 1,990 - 1,980 horizontal support.
Support level: 1990 - 1888 - 1880
Resistance: 2026 - 2034 - 2040
Trading recommendation:
SELL 2027 - 2028
Stop Loss : 2031
Take profit 1: 2020 Take profit 2: 2015 Take profit 3: 2010
BUY 1991-1994
Stop Loss : 1989
Take profit1 : 2000 Take Profit 2: 2005 Take profit 3: 2010
Note: Always install Stoploss and Takeprofit to ensure safety in trading
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.