Gold Price Forecast: Uptrend XAU/USD upbeat ahead of CPI
Updated
Gold (XAU/USD) cheers US policymakers unable to give any commendable signs of debt ceiling as the yellow metal re-establishes weekly highs to around 2,038$ around the press time point. In doing so, XAU/USD also benefited from a softer US Dollar ahead of all-important US Consumer Price Index (CPI) data for April.
That said, XAU/USD is currently aiming for a mid-April high swing around 2,048$ before reaching a February 2023 high near 2,060$. However, the recently refreshed all-time high of around 2,080$ and an upward sloping resistance line from late March, near 2,088$, quickly followed by the rounded figure of 2,100$, could be challenge those who buy Gold then.
Conversely, a one-week ascending trendline near $2,017 is ahead of the $2,000 psychological magnet to limit Gold prices short-term declines.
Accordingly, the convergence of the 200-bar Exponential Moving Average (EMA) and the previous resistance line from last Wednesday, near $1,989, will be important to watch as it holds the key to a further downtrend. more of XAU/USD.
BUY
GOLD: 2026-2024
STOPLOSS: 2018
Take Profit: 2030
Take Profit: 2035
Take Profit: 2045
That said, XAU/USD is currently aiming for a mid-April high swing around 2,048$ before reaching a February 2023 high near 2,060$. However, the recently refreshed all-time high of around 2,080$ and an upward sloping resistance line from late March, near 2,088$, quickly followed by the rounded figure of 2,100$, could be challenge those who buy Gold then.
Conversely, a one-week ascending trendline near $2,017 is ahead of the $2,000 psychological magnet to limit Gold prices short-term declines.
Accordingly, the convergence of the 200-bar Exponential Moving Average (EMA) and the previous resistance line from last Wednesday, near $1,989, will be important to watch as it holds the key to a further downtrend. more of XAU/USD.
BUY
GOLD: 2026-2024STOPLOSS: 2018
Take Profit: 2030
Take Profit: 2035
Take Profit: 2045
Order cancelled
BUY 2026 => 2048. +120pips
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