Although it appears to have corrected due to being held at Resistance 1, the continued stength of XAU/USD's technical and fundamental condiitions provides an opportunity for XAU/USD to continue its strengthening.
Tactical Scenario
Positive Reaction Zone: If the price correction is halted at the resistance level of 3345, there is an opportunity for XAU/USD to strengthen again today, rising to 3365.
Momentum Extension Bias: If 3,365 is successfully broken and closes above it, XAU/USD will continue its strengthening to 3,393 and 3,400 area.
Fundamental Factors Driving Gold Today:
The combination of the trade tariff war from the United States And US Treasury yields, which of course have a positive correlation with the DXY (Dollar Index), are certainly driving the strengthening of XAU/USD today.
Tactical Scenario
Positive Reaction Zone: If the price correction is halted at the resistance level of 3345, there is an opportunity for XAU/USD to strengthen again today, rising to 3365.
Momentum Extension Bias: If 3,365 is successfully broken and closes above it, XAU/USD will continue its strengthening to 3,393 and 3,400 area.
Fundamental Factors Driving Gold Today:
The combination of the trade tariff war from the United States And US Treasury yields, which of course have a positive correlation with the DXY (Dollar Index), are certainly driving the strengthening of XAU/USD today.
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Disclaimer
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DAILY FREE SIGNAL. FREE SIGNAL (95% accuracy) TP AND SL PROVIDED
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
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.