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As the gold market continues to evolve, the $2,000 mark has played an important role in shaping that evolution. A successful daily close above this level could pave the way for further gains with a potential target above $2,050. The US dollar is often negatively correlated with gold, so it is important for traders to keep an eye on US dollar movements. This correlation can fluctuate, but understanding this relationship can provide valuable insight when analyzing gold price movements.
A break below the 200-day EMA will signal a bearish turn and can sink the price towards $1,800. Note, however, that this is not the future base case. Rather, the current outlook points to continued market turmoil, requiring a cautious and strategic trading approach.
XAUUSD SELL 1960 - 1962
✅ TP1: 1955
✅ TP2: 1950
✅ TP2: 1945
❌ SL: 1967
A break below the 200-day EMA will signal a bearish turn and can sink the price towards $1,800. Note, however, that this is not the future base case. Rather, the current outlook points to continued market turmoil, requiring a cautious and strategic trading approach.
XAUUSD SELL 1960 - 1962
✅ TP1: 1955
✅ TP2: 1950
✅ TP2: 1945
❌ SL: 1967
Note
Install full TP SL for account safetyNote
Note
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