Trend:
Gold is currently in an uptrend, having already broken through previous resistance, with three peaks on the trendline confirming the upward movement. This resistance has now become major key support. The price recently moved up to touch the next major resistance, then retraced back to the major key support zone for a retest.
Price Action Expectation:
We are waiting for the price to break the major support level again, which could trigger a liquidation of buyers' stop loss orders. Once the price reaches the second liquidity zone, we expect it to reverse and break through the major key level, signaling further upside potential.
Trade Setup:
Entry: Buy Stop Order at 2675.70
Stop Loss: 2645.70
Take Profit (TP): Next resistance level at 2700.00
Fundamental Outlook:
Gold's price is on a solid recovery, flirting with two-week highs just above $2,700. However, further upside depends on the US Consumer Price Index (CPI) data, which will likely influence the Federal Reserve’s decision-making for early next year. The CPI release is critical as it could shape future expectations for monetary policy and determine the pace of gold's price movement.
Gold is currently in an uptrend, having already broken through previous resistance, with three peaks on the trendline confirming the upward movement. This resistance has now become major key support. The price recently moved up to touch the next major resistance, then retraced back to the major key support zone for a retest.
Price Action Expectation:
We are waiting for the price to break the major support level again, which could trigger a liquidation of buyers' stop loss orders. Once the price reaches the second liquidity zone, we expect it to reverse and break through the major key level, signaling further upside potential.
Trade Setup:
Entry: Buy Stop Order at 2675.70
Stop Loss: 2645.70
Take Profit (TP): Next resistance level at 2700.00
Fundamental Outlook:
Gold's price is on a solid recovery, flirting with two-week highs just above $2,700. However, further upside depends on the US Consumer Price Index (CPI) data, which will likely influence the Federal Reserve’s decision-making for early next year. The CPI release is critical as it could shape future expectations for monetary policy and determine the pace of gold's price movement.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.