GOLD finds a big buying opportunity - XAUUSD March 29, 2022

The greenback is gathering strength against its major rivals at the beginning of the week supported by rising US Treasury bond yields. The negative shift witnessed in risk sentiment is providing an additional boost to the dollar as well. February Trade Balance data and the Federal Reserve Bank of Dallas' Texas Manufacturing Survey will ve featured in the US economic docket on Monday. Bank of England Governor Andrew Bailey is scheduled to deliver a speech during the European Trading hours as well.

On Sunday, China announced that a two-phase lockdown for Shanghai had been launched amid the rising number of coronavirus infections. Meanwhile, Ukrainian President Volodymyr Zelenskyy said that they will insist on sovereignty and territorial integrity in the next round of talks with Russia. US stock index futures are down between 0.4% and 0.5% early Monday, reflecting the souring market mood.

Trading recommendation:

BUY soup at the price range: 1930-1920

Stop Loss : 1910
Take Profit 1: 1945
Take Profit 2: 1950
Take Profit 3: 1960

Good luck with your closing!