Gold Spot / U.S. DollarUpdated XAUUSD
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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.