Hello traders, today we can see gold making a strong recovery from the support level around 3,300 USD. If the price can break through the immediate resistance at 3,372 USD, gold could reach the target of 3,406 USD. The upward trend is supported by successive higher highs and lows, along with the EMA lines.
News Supporting the Bullish Trend:
The FOMC meeting minutes are dovish, jobless claims are higher than expected, and the PMI data is weaker than forecast, all indicating a weak economy. This could lead the Fed to maintain a loose monetary policy, weakening the USD. When the USD weakens, gold becomes more attractive, encouraging investors to turn to gold as a safe-haven asset, driving the price higher.
Conclusion: Based on both fundamental and technical factors, XAUUSD is trending upwards, supported by dovish FOMC minutes, high jobless claims, and weak PMI data. The next targets are 3,372 USD and 3,406 USD.
Strategy:
Buy if the price breaks above 3,372 USD, with a target of 3,406 USD.
Place a stop loss below 3,316 USD to protect capital.
News Supporting the Bullish Trend:
The FOMC meeting minutes are dovish, jobless claims are higher than expected, and the PMI data is weaker than forecast, all indicating a weak economy. This could lead the Fed to maintain a loose monetary policy, weakening the USD. When the USD weakens, gold becomes more attractive, encouraging investors to turn to gold as a safe-haven asset, driving the price higher.
Conclusion: Based on both fundamental and technical factors, XAUUSD is trending upwards, supported by dovish FOMC minutes, high jobless claims, and weak PMI data. The next targets are 3,372 USD and 3,406 USD.
Strategy:
Buy if the price breaks above 3,372 USD, with a target of 3,406 USD.
Place a stop loss below 3,316 USD to protect capital.
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📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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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.
Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.