XAU/USD : Be Ready for another Fall ! (READ THE CAPTION)

11 ago

By examining the #gold chart in the 2-hour timeframe, we observe that last week the price closed at $2431. I expect that with the market opening, after an initial rise to the range of $2442 to $2455, the price will likely decline again. The potential targets for this decline are $2417, $2405, and $2400, respectively. This analysis will be updated tomorrow.

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Best Regards , Arman Shaban

13 ago

Nota

Upon reviewing the 2-hour chart of gold, we see that yesterday, the price did not meet the condition we set for a drop (staying below $2439) and instead started to rise further. It reached the second supply zone of $2473 to $2484, then corrected by 180 pips down to $2458. Currently, gold is trading around the $2471 level again, and we need to see if it will get rejected from this important level once more. The reason for the renewed gold rally was the lower-than-expected PPI data.

14 ago

Nota

By Reviewing the 2-hour gold chart, we observe that the price is currently trading around $2473 and today it managed to break above $2477, gathering liquidity above this level. As you know, today we have the CPI data release. If the data comes in higher than the forecast, it could lead to a drop in gold prices, and vice versa, if it comes in lower, it could push gold prices even up to $2500. Be cautious with your trades today and ideally avoid any significant trades from now until at least half an hour after the data release. Good luck!

14 ago

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