🌍 Market Overview:
Gold reached a record high at the start of the week, fueled by safe-haven flows after U.S. President Donald Trump announced a 25% tariff on Canada and Mexico and a 10% tariff on China.
USD Index (DXY): After a strong rally, DXY retraced to fill its liquidity gap, and technical analysis suggests a potential continuation of the uptrend in the coming days.
Market Sentiment: Concerns over trade wars and rising inflation are major factors supporting gold prices. However, geopolitical uncertainty is causing significant market volatility.
📈 Key Levels for the Asian Session:
Main range: 2822 - 2808.
Trading strategy: Monitor price action at the short-term support and resistance zones. Wait for breakout and retest signals to determine trading direction.
💡 Trading Strategies:
BUY SCALP:
Entry: 2786 - 2784
SL: 2780
TP: 2790 - 2794 - 2798 - 2803 - 2806 - 2810
BUY ZONE:
Entry: 2774 - 2772
SL: 2768
TP: 2778 - 2782 - 2786 - 2790 - 2795 - 2800
SELL SCALP:
Entry: 2830 - 2832
SL: 2836
TP: 2825 - 2820 - 2815 - 2810
SELL ZONE:
Entry: 2848 - 2850
SL: 2854
TP: 2843 - 2840 - 2835 - 2830 - 2826 - 2822
⚠️ Key Notes:
The market remains highly volatile due to escalating trade tensions. Exercise caution when trading.
Always adhere to TP/SL levels to protect your account.
Stay updated on key indicators and news to adjust strategies promptly.
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Wishing everyone a successful trading day! 🚀