Gold builds on Monday's gains and trades decisively higher on the day near $2,920 on Tuesday. Markets remain risk-averse as the US' trade partners introduce retaliatory measures against tariffs, fuelling a leg higher in XAU/USD.
From a technical perspective, failure ahead of the $2,900 mark warrants some caution for bullish traders. That said, oscillators on the daily chart – though they have been losing traction – are holding in positive territory and support prospects for the emergence of some dip-buyers near the $2,860 immediate support. This is followed by the multi-week low, around the $2,833-2,832 region touched last Friday, below which the Gold price could accelerate the fall further towards the $2,800 round figure.
Xauusd signal
From a technical perspective, failure ahead of the $2,900 mark warrants some caution for bullish traders. That said, oscillators on the daily chart – though they have been losing traction – are holding in positive territory and support prospects for the emergence of some dip-buyers near the $2,860 immediate support. This is followed by the multi-week low, around the $2,833-2,832 region touched last Friday, below which the Gold price could accelerate the fall further towards the $2,800 round figure.
Xauusd signal
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Xauusd sell 100 pips done Trade closed: target reached
Xauusd sell 140 pips done Note
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Gold signal
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Gold signal
t.me/ProTrader_9
My Channel Link
t.me/ProTrader_9
Check My Performance
t.me/ProTrader_9
My Channel Link
t.me/ProTrader_9
Check My Performance
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.