Gold(
XAUUSD) started to fall today after the news "The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days."
Gold is moving near a Heavy Support zone($3,198-$3,136).
In terms of Elliott wave theory, it appears that Gold has completed five downwaves, and we should expect Gold to rise at least to the Resistance zone($3,280-$3,245).
It is possible that selling pressure on Gold will increase again with the opening of the US market. But this analysis is in the short term, and it is likely to hit Target before the US market opens.
The Bullish Engulfing Candlestick Pattern can also be a sign of Gold rising, at least in the short term.
I expect Gold to rise to at least $3,241.890.
Note: Stop Loss(SL): $3204.820
Gold Analyze ( XAUUSD ), 15-minute time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
XAUUSD) started to fall today after the news "The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days."Gold is moving near a Heavy Support zone($3,198-$3,136).
In terms of Elliott wave theory, it appears that Gold has completed five downwaves, and we should expect Gold to rise at least to the Resistance zone($3,280-$3,245).
It is possible that selling pressure on Gold will increase again with the opening of the US market. But this analysis is in the short term, and it is likely to hit Target before the US market opens.
The Bullish Engulfing Candlestick Pattern can also be a sign of Gold rising, at least in the short term.
I expect Gold to rise to at least $3,241.890.
Note: Stop Loss(SL): $3204.820
Gold Analyze ( XAUUSD ), 15-minute time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
You can Transfer Stop Loss(SL) to Entry Point($3,219)= Risk FreeTrade closed: target reached
Target Done
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
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.