⭐️Fundamental analysis
Gold prices fell slightly after hitting a record high on Thursday, ending a three-day winning streak. Profit-taking pressure from buyers, along with positive risk sentiment in the market, weakened gold. At the same time, the modest increase in the USD also put downward pressure on gold prices in the European trading session.
However, expectations of an early Fed rate cut could limit the USD's rise, supporting gold prices. In addition, concerns about former President Donald Trump's trade policy and escalating tensions in the Middle East could continue to act as factors driving gold demand. This requires investors to be cautious before making trading decisions.
⭐️Technical analysis
The D1 candle has not yet shown any signs of a reversal in GOLD. Therefore, the trading strategy has not yet shown any signs of peak detection or peak catching. BUY is still easier to win.
Yesterday's US session buy zone 3038 in today's European trading session plays an important resistance zone. Currently, gold has confirmed a break of 3045 for a SELL signal and is heading towards 3038. Before 2 hours of the end of the European session, if gold does not break through this zone, it is still possible to BUY around 3038. 3031 and 3029 play the role of resistance zones for the day when breaking through 3038. Today, waiting for a retest to BUY is the safest
Gold prices fell slightly after hitting a record high on Thursday, ending a three-day winning streak. Profit-taking pressure from buyers, along with positive risk sentiment in the market, weakened gold. At the same time, the modest increase in the USD also put downward pressure on gold prices in the European trading session.
However, expectations of an early Fed rate cut could limit the USD's rise, supporting gold prices. In addition, concerns about former President Donald Trump's trade policy and escalating tensions in the Middle East could continue to act as factors driving gold demand. This requires investors to be cautious before making trading decisions.
⭐️Technical analysis
The D1 candle has not yet shown any signs of a reversal in GOLD. Therefore, the trading strategy has not yet shown any signs of peak detection or peak catching. BUY is still easier to win.
Yesterday's US session buy zone 3038 in today's European trading session plays an important resistance zone. Currently, gold has confirmed a break of 3045 for a SELL signal and is heading towards 3038. Before 2 hours of the end of the European session, if gold does not break through this zone, it is still possible to BUY around 3038. 3031 and 3029 play the role of resistance zones for the day when breaking through 3038. Today, waiting for a retest to BUY is the safest
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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/+HARBQ2pBFaI5ZjI1
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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.