XAUUSD Gold fluctuates in the first days of the month
XAUUSD
price is finding its feet to attempt another run to the $2,000 threshold early Thursday, as the United States Dollar (USD) and US Treasury bond yields lick their wounds following a non-committal US Federal Reserve (Fed) interest rate outlook and mixed US economic data. Traders continue to portray ‘buy the dips’ trading in Gold price, as long as the critical static support at $1,963 holds.
The 14-day Relative Strength Index (RSI) indicator remains well positioned to see a renewed uptick while above the midline.
Moreover, the 21- and 50-day Simple Moving Averages (SMA) Bull Cross remains in play alongside the 21- and 100-day SMAs Bull Cross, adding credence to the bullish potential.
Furthermore, the 21-day SMA awaits a daily closing above the 200-day SMA to validate another Bull Cross, opening doors for a sustained upside.
Immediate resistance is seen at the previous day’s high of $1,993, above which the $2,000 threshold will be retested.
Asia - Europe Gold:
🔴SELL watch Price range 1995$ - 1993$ - stoploss: 2000$
Watch to BUY price range 1973$ - 1975$ - stoploss: 1969$
American session:
The news plan will be updated directly before the news and right at the news announcement
Note: Full TP, SL to be safe and win the market ‼️