Current Situation:
The price at 2,830 is showing steady growth, continuing the bullish trend. After breaking the 2,825 level, buyers dominate the market, supported by increasing volume and strong momentum.
Technical Analysis:
• Trend: Bullish
• Key Support: 2,829
• Key Resistance: 2,840
• Volatility: Moderate
• Volume: Increasing on buy-side
Fundamental Factors:
• Expectations of ECB monetary easing support gold’s rise against the euro.
• Global economic uncertainty and geopolitical risks drive demand for safe-haven assets.
• Capital outflows from the euro into gold reinforce the bullish trend.
What Do We Expect?
We expect further growth towards:
• First take-profit: 2,840
• Second take-profit: 2,850
• Third take-profit: 2,860
Conclusion:
Holding above 2,829 confirms the uptrend. A breakout above 2,840 could push the price towards 2,850 and beyond. If the price falls below 2,827, a correction to 2,815 – 2,780
The price at 2,830 is showing steady growth, continuing the bullish trend. After breaking the 2,825 level, buyers dominate the market, supported by increasing volume and strong momentum.
Technical Analysis:
• Trend: Bullish
• Key Support: 2,829
• Key Resistance: 2,840
• Volatility: Moderate
• Volume: Increasing on buy-side
Fundamental Factors:
• Expectations of ECB monetary easing support gold’s rise against the euro.
• Global economic uncertainty and geopolitical risks drive demand for safe-haven assets.
• Capital outflows from the euro into gold reinforce the bullish trend.
What Do We Expect?
We expect further growth towards:
• First take-profit: 2,840
• Second take-profit: 2,850
• Third take-profit: 2,860
Conclusion:
Holding above 2,829 confirms the uptrend. A breakout above 2,840 could push the price towards 2,850 and beyond. If the price falls below 2,827, a correction to 2,815 – 2,780
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.