XAUUSD
Updated
Welcome, big predatory traders.
I think that the next week will be very aggressive, especially after the violent decline that occurred from the $2450 level.
The price has also failed so far to break the $2320 level.
The general trend for gold, as we all know, has been upward for a long time, and no matter how low the price falls, it is inevitably rising, but the rise in general is for investors who buy gold and reap profits after a long period of months and years.
Most of us like short term trading,
Therefore, my technical and fundamental analysis also shows the following:
The price rose from the level of $2322 to the level of $2359 after the news of (Core PCE Price Index).
Then it fell harshly, reaching the so far stable support level of $2,320. This rapid decline was due to the ceasefire initiative in Gaza. But the problems of the economy, inflation, and interest hikes remain without a final solution that will bring relief to the trading world.
Therefore, technically, we may witness a final rise after the market opens to test the level of $2406 or a little higher before the major corrective decline that targets the 38 Fibonacci level drawn from the rise that began at the level of $1984 until the historical peak of $2450.
This level is also likely to be broken in the short term to visit lower levels, for example, $2217 and up to $2162, which corresponds to 61 Fibonacci...
Sorry for the long post
I wish you huge profits.
I think that the next week will be very aggressive, especially after the violent decline that occurred from the $2450 level.
The price has also failed so far to break the $2320 level.
The general trend for gold, as we all know, has been upward for a long time, and no matter how low the price falls, it is inevitably rising, but the rise in general is for investors who buy gold and reap profits after a long period of months and years.
Most of us like short term trading,
Therefore, my technical and fundamental analysis also shows the following:
The price rose from the level of $2322 to the level of $2359 after the news of (Core PCE Price Index).
Then it fell harshly, reaching the so far stable support level of $2,320. This rapid decline was due to the ceasefire initiative in Gaza. But the problems of the economy, inflation, and interest hikes remain without a final solution that will bring relief to the trading world.
Therefore, technically, we may witness a final rise after the market opens to test the level of $2406 or a little higher before the major corrective decline that targets the 38 Fibonacci level drawn from the rise that began at the level of $1984 until the historical peak of $2450.
This level is also likely to be broken in the short term to visit lower levels, for example, $2217 and up to $2162, which corresponds to 61 Fibonacci...
Sorry for the long post
I wish you huge profits.
Note
Lowering the interest rate confirms the expectation of a rise. Do you agree with me?Note
First target reached 2353 Waiting for break level 2368 for buy again
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