XAUUSD Adjustments come back. Late salvation

XAUUSD retreats to $2,160 as US yields rebound

• XAUUSD: Technical analysis
  

XAUUSD lost its traction and retreated to the $2,160 area. Following a downward correction in the European session, the benchmark 10-year US Treasury bond yield recovered to 4.3%, making it difficult for XAUUSD to hold its ground.

From a technical perspective, the range-bounce price action since the beginning of the current week comes on the back of the recent blowout rally and might still be categorized as a bullish consolidation phase. The lower boundary of the said trading range near the $2,152-2,150 area might continue to protect the immediate downside. A convincing break below could drag the Gold price to the next relevant support near the $2,128-2,127 zone. The corrective slide could extend further towards the $2,100 round figure, which should act as a strong base for the XAUUSD .

On the flip side, the $2,178-2,180 region now seems to have emerged as an immediate strong barrier, which if cleared should allow the Gold price to challenge the record peak, around the $2,195 area touched last week. Some follow-through buying beyond the $2,200 mark will be seen as a fresh trigger for bullish traders and set the stage for the resumption of a well-established uptrend witnessed since the beginning of this month.

• XAUUSD: Economic analysis
  

XAUUSD attracts some dip-buying on Friday and reverses a major part of the previous day's slide back closer to the $2,150 level, or the weekly low. Despite the hotter-than-expected US Producer Price Index (PPI), the markets are still pricing in a greater chance that the Federal Reserve (Fed) will start cutting interest rates in June. This is reinforced by a fresh leg down in the US Treasury bond yields, which fails to assist the US Dollar (USD) to attract any meaningful buyers. Apart from this, a generally weaker tone around the equity markets lends some support to the safe-haven precious metal.

Despite the uptick, the Gold price remains confined in a familiar range held since the beginning of this week as traders seek more clarity about the Fed's rate-cut path before placing fresh directional bets. This, in turn, warrants some caution for bullish traders amid still overbought conditions on the daily chart and ahead of the two-day FOMC meeting starting next Tuesday. In the meantime, Friday's US economic docket – featuring the Empire State Manufacturing Index, Industrial Production figures and the Prelim Michigan Consumer Sentiment Index – might provide some impetus on the last day of the week.

Transaction en cours:

🌐PLAN XAUUSD March 19

🔴Sell 2175 - 2177 stop 2181
Buy 2137 2135 stop 2131

Resistance: 2162 - 2171 - 2177
Support: 2145 - 2135 - 2125
Scalping strategies will be applied when the resistance - support areas above have entry signals.

Note: Full TP and SL to be safe and win the market‼️

Commentaire:

🌐PLAN XAUUSD March 20

🔴Sell 2175 - 2177 stop 2181
Buy 2137 - 2135 stop 2131
Buy 2148 - 2146 stop 2142
(Note the reaction to entry Sell scalp 2166)
Resistance: 2166 - 2175 - 2182
Support: 2146 - 2140 - 2137 - 2125

Scalping strategies will be applied when the resistance - support areas above have entry signals.

Note: Full TP and SL to be safe and win the market‼️

Transaction en cours:

🌐PLAN XAUUSD March 21

🔴Sell 2219 - 2221 stop 2226
Buy 2182 - 2180 stop 2175
Buy scalp area: 2187-2189 SL 2184
🔴 Sell Scalp zone: 2210-2212 SL 2215

Resistance price ranges to note: 2225 - 2201 - 2189 - 2180 - 2175

Scalping strategies will be applied when the resistance - support areas above have entry signals.

Note: Full TP and SL to be safe and win the market‼️

Trade fermée: cible de profit atteinte:

ENTRY SELL 2219 - 2221 HIT TP 100pips profit

Transaction en cours:

🌐XAUUSD PLAN March 22

🔴SELL zone 2193 - 2195 stoploss 2199
🟢BUY zone 2147 - 2145 stoploss 2141

Resistance price zones to note:
Resistance: 2188 - 2195
Support: 2172 - 2168 - 2152 - 2145

Scalping strategies will be applied when the resistance - support areas above have entry signals.

Note: Full TP and SL to be safe and win the market‼️