XAUUSD Hello traders,
For today, I'm anticipating a bullish market for gold. We have a very strong support line in place, and the DXY (Dollar Index) appears to be very bearish at the moment. When considering the 4-hour timeframe, it resembles a countertrendline trade for DXY. This alignment provides additional confluence for a gold buy trade.
However, as always, please be cautious and mindful of any news events that can impact the market. Keep a close eye on both technical and fundamental factors to make informed trading decisions.
Trade closed: stop reached
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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.