XAU/USD is under pressure as the USD moves higher amid escalating geopolitical risks in the Middle East and reduced market expectations for a sharp Fed rate cut in 2024.
For gold to recover, buyers' first target is Symmetrical Triangle support near $2,033, then $2,046 (21-day MA and resistance of the aforementioned Triangle). and the 2,050 USD mark.
For gold to recover, buyers' first target is Symmetrical Triangle support near $2,033, then $2,046 (21-day MA and resistance of the aforementioned Triangle). and the 2,050 USD mark.
Note
BUY XAU 2007 - 2005TP1: 2017
TP2: 2027
SL: 2000
Note
running + 70 pipsNote
Hit TP2 + 200 pips
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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.