GOLD: Bullish outlook
The XAUUSD currency pair, representing the exchange rate between gold and the US dollar, is currently facing rejection at the 1900 and 1896 support zone. This follows a significant drop of over 200 pips attributed to robust selling activity from the 200EMA, which is functioning as dynamic resistance. The current scenario suggests an oversold condition of the pair.
My analysis predicts that the pair will reach the levels of 1908 and 1913 in the near term, with 1908 serving as the short-term target and 1913 as the medium-term target. In the event of a deeper correction, I have set 1918 as the extended medium-term target.
My analysis predicts that the pair will reach the levels of 1908 and 1913 in the near term, with 1908 serving as the short-term target and 1913 as the medium-term target. In the event of a deeper correction, I have set 1918 as the extended medium-term target.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.