🔖XAU/USD, H4🔖 1 April 2024
Despite the strengthening US Dollar, safe-haven gold maintained its bullish momentum, fueled by dampened risk appetite ahead of significant events. The precious metal surged to all-time highs, marking a fifth consecutive session of gains. However, investors remain cautious as the Federal Reserve's stance on combating inflation could potentially impact gold's appeal. Monitoring further developments and potential shifts in Fed rhetoric will be crucial for traders seeking trading signals.
Gold prices are trading higher following the prior breakout above the previous resistance level. Suggesting the commodity might enter overbought territory.
Resistance level: 2250.00, 2280.00📉
Support level: 2215.00, 2185.00📈
Despite the strengthening US Dollar, safe-haven gold maintained its bullish momentum, fueled by dampened risk appetite ahead of significant events. The precious metal surged to all-time highs, marking a fifth consecutive session of gains. However, investors remain cautious as the Federal Reserve's stance on combating inflation could potentially impact gold's appeal. Monitoring further developments and potential shifts in Fed rhetoric will be crucial for traders seeking trading signals.
Gold prices are trading higher following the prior breakout above the previous resistance level. Suggesting the commodity might enter overbought territory.
Resistance level: 2250.00, 2280.00📉
Support level: 2215.00, 2185.00📈