XAUUSD TO TEST $2075.00 ATH?
XAUUSD (Gold) Trading Set-Up:
Will XAUUSD (Gold) test $2075.00 all time highs? I strongly believe so! Here's why...
Reason 1: Global Inflation
I am sure that many of you will have noticed the effects of inflation around the world recently, prices within a wide range of goods & services have significantly increased. During inflationary periods, investors tend to buy into gold as a hedge and safe haven investment against inflation. Therefore at this moment in time we can see gold has seen strong bullish momentum since the beginning of 2022, not showing any signs of slowing down as of yet.
Reason 2: Geopolitical Tension
We all probably know about the unfortunate situation between Russia & Ukraine at the moment, this is creating a lot of fear and panic around the world due to the uncertainty of the situation. In response to the potential threat of a war, which could involve multiple nations around the world, investors are flooding into safe haven assets such as Gold, which has successfully proven a safe investment during fragile times such as we are experiencing right now.
As a result of both reasons I have listed above, I believe there is huge potential for further upside momentum within the Gold market. I am personally targeting the all time high (ATH) $2075.00 and will be monitoring further from there.
Before entering a trade on Gold, I am expecting a correction in the market between $1980.00 - $1960 before executing for further upside movement.
Let's see how this plays out :)
Will XAUUSD (Gold) test $2075.00 all time highs? I strongly believe so! Here's why...
Reason 1: Global Inflation
I am sure that many of you will have noticed the effects of inflation around the world recently, prices within a wide range of goods & services have significantly increased. During inflationary periods, investors tend to buy into gold as a hedge and safe haven investment against inflation. Therefore at this moment in time we can see gold has seen strong bullish momentum since the beginning of 2022, not showing any signs of slowing down as of yet.
Reason 2: Geopolitical Tension
We all probably know about the unfortunate situation between Russia & Ukraine at the moment, this is creating a lot of fear and panic around the world due to the uncertainty of the situation. In response to the potential threat of a war, which could involve multiple nations around the world, investors are flooding into safe haven assets such as Gold, which has successfully proven a safe investment during fragile times such as we are experiencing right now.
As a result of both reasons I have listed above, I believe there is huge potential for further upside momentum within the Gold market. I am personally targeting the all time high (ATH) $2075.00 and will be monitoring further from there.
Before entering a trade on Gold, I am expecting a correction in the market between $1980.00 - $1960 before executing for further upside movement.
Let's see how this plays out :)
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