XAU/USD Tug of War – Uptrend Still Dominant
Gold (XAU/USD) hovers around $2,900 after a strong rally. This reflects cautious sentiment amid a weakening USD and concerns over trade tensions. On the 4H chart, gold trades within a sideways channel, with key support at $2,853 and strong resistance at $2,943.
The weakening USD and the Trump administration’s tariff policy continue to underpin gold. However, profit-taking pressure could see prices correct before the uptrend resumes.
If XAU/USD breaks the $2,943 resistance with strong momentum, the uptrend could extend to $3,000. Conversely, prices could correct to the support zone if selling pressure increases before bouncing back.
The weakening USD and the Trump administration’s tariff policy continue to underpin gold. However, profit-taking pressure could see prices correct before the uptrend resumes.
If XAU/USD breaks the $2,943 resistance with strong momentum, the uptrend could extend to $3,000. Conversely, prices could correct to the support zone if selling pressure increases before bouncing back.
🪙 JOIN OUR FREE TELEGRAM GROUP 🪙
t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
️🥇 Zalo Group: zalo.me/g/hydlwv957
t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
️🥇 Zalo Group: zalo.me/g/hydlwv957
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.
🪙 JOIN OUR FREE TELEGRAM GROUP 🪙
t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
️🥇 Zalo Group: zalo.me/g/hydlwv957
t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
️🥇 Zalo Group: zalo.me/g/hydlwv957
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.