$XAU/USD (XAUUSD.CFD)$ Alright , as you know the PCE data re...
Alright , as you know the PCE data release was a bit of a downer for gold . It seems like that news really knocked the wind out of its sails and theres just not a lot of upward momentum right now .
So , are we looking at a bearish week for gold ? Its tough to say for sure . My feeling is that we might see some downward movement but I wouldnt be surprised if it takes a while to get there .
Here's why:
Support Levels : My main area of focus is the 2312-2306 support zone . This is where gold might find some buying pressure and potentially bounce back up . It doesnt necessarily mean it'll hit that level today .
Geopolitical : Theres still a lot of geopolitical tension simmering around the globe . The recent ceasefire in Gaza is a positive development but who knows how long it will last ? These kinds of situations can create uncertainty in the market which can sometimes be bullish for gold as investors seek safe-haven assets .
Geopolitical : Theres still a lot of geopolitical tension simmering around the globe . The recent ceasefire in Gaza is a positive development but who knows how long it will last ? These kinds of situations can create uncertainty in the market which can sometimes be bullish for gold as investors seek safe-haven assets .
So , whats the plan ?
For now , its a waiting game . We need to see how the market reacts in the coming days . Here are some things to keep an eye on :
For now , its a waiting game . We need to see how the market reacts in the coming days . Here are some things to keep an eye on :
Economic Data : Any major economic data releases could impact gold prices . Pay attention to news headlines and be prepared to adjust your strategy accordingly .
Technical Indicators : Keep an eye on your favorite technical indicators to see if they're giving any clues about potential support or resistance levels .
Technical Indicators : Keep an eye on your favorite technical indicators to see if they're giving any clues about potential support or resistance levels .
Geopolitical Events : Stay informed about any developments in ongoing conflicts or potential flashpoints . These events can have a significant impact on gold prices .
The bottom line ?
Theres still a lot of uncertainty out there and gold prices can be unpredictable . Be patient stay informed and adapt your strategy as needed .
Theres still a lot of uncertainty out there and gold prices can be unpredictable . Be patient stay informed and adapt your strategy as needed .
I'll be here keeping a close eye on the market and providing updates as things unfold . Lets see where this gold rollercoaster takes us next !
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9+ years trading experience . Can navigate a market crash but still tripping over my crush . 😍🥹😭
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103824105 : Yea, gold looks like losing steam, and I agree it may test 2305-00 level, which I find tempting to buy
NewBB : Gold is bullish in the short term