📌 Driving events
Gold prices (XAU/USD) continued to consolidate in the European trading session on Thursday as traders remained cautious amid slightly overbought conditions. In addition, the general risk appetite limited gold's intraday gains to a new high. However, as uncertainty remains over US President Donald Trump's aggressive trade policies and their potential impact on the global economic outlook, gold's downside risks remain under control.
📊 Comment Labaron
Amid global trade tensions, gold fell back as expected after hitting a high near 3057, but the decline was less than expected. In the short term, it is more likely to attract friends who missed the entry ticket in the early stage to enter the market again to buy gold; bulls continue to be excited and push up prices.
💰Strategy package
Resistance - 50-55
Support - 25-16
Action 2030-35 Long
Target 2045 Take Profit 2025 Stop Loss
⭐️Note: Labaron wants traders to manage their capital properly
- Choose the number of lots that matches your capital
- Take Profit equals 4-7% of the capital account
- Stop Loss equals 1-3% of the capital account
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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.