Personal opinion on the direction of gold today
🔆Gold news:
Gold prices (XAU/USD) extended gains for a third straight session on Wednesday, hitting an 11-week high of around $2,751 in Asian trading. The rise was fueled by increased safe-haven demand amid concerns over U.S. President Donald Trump’s trade policies. In addition, falling U.S. Treasury yields, supported by expectations of two Federal Reserve rate cuts this year, further supported the appeal of the non-yielding precious metal.
🔆Technical:
Based on Fibonacci and support resistance zones to set up appropriate buy orders
🔆Personal opinion:
Continue the uptrend, look at the 2760, 2774 price zone as this is the Fibonacci crossover and the resistance zone
🔆Price Zone Setup:
👉 Buy Gold 2720 – 2722
❌SL: 2714 | ✅TP: 2728 – 2734 – 2740
👉SELL Gold 2774 -2776
❌SL: 2781 | ✅TP: 2767 - 2760 - 2753
Thank you for reading my comment: "FM"
Gold prices (XAU/USD) extended gains for a third straight session on Wednesday, hitting an 11-week high of around $2,751 in Asian trading. The rise was fueled by increased safe-haven demand amid concerns over U.S. President Donald Trump’s trade policies. In addition, falling U.S. Treasury yields, supported by expectations of two Federal Reserve rate cuts this year, further supported the appeal of the non-yielding precious metal.
🔆Technical:
Based on Fibonacci and support resistance zones to set up appropriate buy orders
🔆Personal opinion:
Continue the uptrend, look at the 2760, 2774 price zone as this is the Fibonacci crossover and the resistance zone
🔆Price Zone Setup:
👉 Buy Gold 2720 – 2722
❌SL: 2714 | ✅TP: 2728 – 2734 – 2740
👉SELL Gold 2774 -2776
❌SL: 2781 | ✅TP: 2767 - 2760 - 2753
Thank you for reading my comment: "FM"
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Channel: signals - knowledge and FOREX comments
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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.