#XAUUSD Daily Higher Time Frame Analysis
The daily chart is showing strong bullish signs, potentially gearing up for a new high. With the possibility of interest rate cuts in the upcoming months, we might see a significant upside in gold. This is further fueled by escalating tensions in the Middle East, the ongoing Russia-Ukraine conflict, and growing speculation about interest rate cuts. 🟢
💡 Caution on Swing Selling: Given the current structure, any correction in gold seems unlikely. However, if we do see a pullback, always aim to buy during retracements. A daily candle close below 2448 could open the door to the 2400 level, which aligns with the Fibonacci golden ratio (0.50-0.61%) and presents a fantastic buying opportunity within the daily order block. 🔥
📈 Bullish Outlook: On the upside, if the daily candle closes above the 2516-2520 zone, it could pave the way for a new high around 2590, as indicated by the daily chart. 📊
#Gold #Forex #TechnicalAnalysis #XAUUSD #Trading #Fibonacci #InterestRates #MarketAnalysis #GoldTrading #DailyAnalysis
💡 Caution on Swing Selling: Given the current structure, any correction in gold seems unlikely. However, if we do see a pullback, always aim to buy during retracements. A daily candle close below 2448 could open the door to the 2400 level, which aligns with the Fibonacci golden ratio (0.50-0.61%) and presents a fantastic buying opportunity within the daily order block. 🔥
📈 Bullish Outlook: On the upside, if the daily candle closes above the 2516-2520 zone, it could pave the way for a new high around 2590, as indicated by the daily chart. 📊
#Gold #Forex #TechnicalAnalysis #XAUUSD #Trading #Fibonacci #InterestRates #MarketAnalysis #GoldTrading #DailyAnalysis
Mr K
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