XAUUSD has broken through the key level of 3110As gold enters a tariff-sensitive week, market risk aversion has intensified. Heightened probabilities of escalating US sanctions against Russia and Iran have reignited uncertainty, driving demand for gold as the world's largest safe-haven asset. Its record-breaking rally reflects the prevailing market sentiment.
Gold is in a sustained uptrend, with bulls steadily advancing and higher lows forming alongside successive new highs. Current market conditions suggest there remains upside potential for gold prices.
For short-term gold trading today, the recommended strategy is to buy on dips as the primary approach and sell on rallies as a secondary tactic. Focus on the key short-term resistance levels at 3115-3120, and monitor the key short-term support levels at 3070-3075.
XAUUSD trading strategy
buy @ 3085-3090
sl 3070
tp 3100
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