XAUUSD SELL
Take Profit 1 - 1950
Take Profit 2 - 1945
Take Profit 3 - 1940
Stop loss - 1968
Here is my more in-depth analysis of XAUUSD:
The XAUUSD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1958, and a sell entry point of 1958 is just above the recent low of 1956.
There are a few reasons why XAUUSD could continue to fall in the near term. First, gold is seen as a safe haven asset, and it has been selling off as concerns about the global economy have grown. Second, the US dollar has been strengthening, which could put downward pressure on gold. Finally, the Federal Reserve is expected to raise interest rates more quickly than other central banks, which could also weigh on gold.
Technical analysis:
From a technical perspective, the XAUUSD pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the XAUUSD pair. The US dollar is also expected to strengthen in the near term, which could put additional downward pressure on gold.
Risks:
There are a few risks to consider before entering a trade on XAUUSD. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the XAUUSD pair. Second, the US dollar is expected to strengthen in the near term, which could put additional downward pressure on gold. Finally, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the XAUUSD pair.
Overall:
I think XAUUSD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on XAUUSD:
The economic outlook for the global economy.
The level of volatility in the forex market.
The price of other safe haven assets, such as the US dollar and Japanese yen.
Take Profit 1 - 1950
Take Profit 2 - 1945
Take Profit 3 - 1940
Stop loss - 1968
Here is my more in-depth analysis of XAUUSD:
The XAUUSD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1958, and a sell entry point of 1958 is just above the recent low of 1956.
There are a few reasons why XAUUSD could continue to fall in the near term. First, gold is seen as a safe haven asset, and it has been selling off as concerns about the global economy have grown. Second, the US dollar has been strengthening, which could put downward pressure on gold. Finally, the Federal Reserve is expected to raise interest rates more quickly than other central banks, which could also weigh on gold.
Technical analysis:
From a technical perspective, the XAUUSD pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the XAUUSD pair. The US dollar is also expected to strengthen in the near term, which could put additional downward pressure on gold.
Risks:
There are a few risks to consider before entering a trade on XAUUSD. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the XAUUSD pair. Second, the US dollar is expected to strengthen in the near term, which could put additional downward pressure on gold. Finally, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the XAUUSD pair.
Overall:
I think XAUUSD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on XAUUSD:
The economic outlook for the global economy.
The level of volatility in the forex market.
The price of other safe haven assets, such as the US dollar and Japanese yen.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.