🔹 Market Outlook: Gold (XAUUSD) is exhibiting a sideways-to-bullish bias, with price action gradually strengthening from $2899 to $2901. Key upside targets are projected at $2929 and $2945.
🔹 Technical Analysis:
✅ Trend Bias: Bullish above $2899, confirming upside momentum 📊
✅ Key Support Levels: $2899 / $2885
✅ Key Resistance Levels: $2929 / $2945
✅ Indicators:
EMA (50 & 200): Price trading above short-term EMA signals bullish continuation 📈
RSI: Above 55, indicating positive momentum ⚡
ATR: Moderate volatility, suggesting measured price movements
Market Structure: Higher lows forming, supporting an uptrend 🚀
🔹 Trading Plan:
📍 Buy on dips near $2899-$2905, targeting $2929-$2945 with SL below $2885.
📍 Breakout Entry: Buy above $2910 for momentum continuation.
📍 Risk Management: Maintain a 1:2 risk-reward ratio.
🚨 Caution: Watch for sudden USD strength or unexpected macroeconomic shifts that could impact Gold’s direction. Trade wisely! ⚖️💰
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.
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.