The chart of Gold (XAU/USD) against the US Dollar indicates a strong uptrend based on both technical and fundamental analysis. Here’s a detailed analysis:
Current Trend: Gold is in an uptrend, as evidenced by the price action on the 4-hour chart. It is supported by a bullish trendline that has been respected multiple times, providing a strong support base for upward movement.
Key Support Zone: The highlighted green area around the $2,685 level represents a significant support zone. If Gold retraces to this level, it presents a potential buying opportunity for traders. This level is crucial as it aligns with the trendline, offering a confluence of support.
Price Target: Following a potential bounce from the $2,685 level, the price of Gold could continue to rally toward higher levels. The immediate target would be around the $2,740 - $2,760 range, aligning with previous resistance points.
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.