M_30 scenario
Updated
Short-Term Technical Analysis:
Gold is consolidating near $2,645_48, and the short-term momentum will likely depend on breaking key levels of resistance and support.
Resistance: Around $2,660-$2,670, which could be tested if bullish momentum persists.
Support: $2,620, which may act as a cushion if prices decline
Market Sentiment:
Strength in the US Dollar and elevated Treasury yields are capping gold's upward movement. However, geopolitical tensions provide support, maintaining gold's safe-haven appeal.
Today, a balance between these opposing forces could result in range-bound trading with a slight bullish bias
Prediction for Today:
Gold is likely to trade between $2,620 and $2,660 for the day. If the price breaks above $2,660, it could climb to $2,670. Conversely, failure to hold above $2,640 could see it retest $2,620.
Disclaimer: This forecast is not financial advice. Always consult a financial professional before making trading decisions.
Gold is consolidating near $2,645_48, and the short-term momentum will likely depend on breaking key levels of resistance and support.
Resistance: Around $2,660-$2,670, which could be tested if bullish momentum persists.
Support: $2,620, which may act as a cushion if prices decline
Market Sentiment:
Strength in the US Dollar and elevated Treasury yields are capping gold's upward movement. However, geopolitical tensions provide support, maintaining gold's safe-haven appeal.
Today, a balance between these opposing forces could result in range-bound trading with a slight bullish bias
Prediction for Today:
Gold is likely to trade between $2,620 and $2,660 for the day. If the price breaks above $2,660, it could climb to $2,670. Conversely, failure to hold above $2,640 could see it retest $2,620.
Disclaimer: This forecast is not financial advice. Always consult a financial professional before making trading decisions.
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✅ Trading Ideas, Setups, and Technical Insights and some minds
Catch these signals for FREE on Telegram:t.me/trextro_fx
Disclaimer
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