XAUUSD: Wait for the right buy opportunity
Updated
Bar D1 yesterday increased sharply, in line with experts' comments that the gold price will continue to increase strongly by at least 188x - 1900. Largely due to expectations that the Fed will not raise interest rates in 2023 and has a roadmap to cut interest rates in 2024. Currently, 1877 is the MA20 resistance of D1, so there may be more or less a profit-taking price reaction from investors, so the price may decrease slightly.
. A closer look at H1 shows that yesterday the price surpassed 1865 but has not yet returned to the back test. This morning's Asian session continued to create a new ATH level compared to yesterday. Easily observe an uptrend channel at H1 with a good buying zone of 186x, everyone should pay attention
. A closer look at H1 shows that yesterday the price surpassed 1865 but has not yet returned to the back test. This morning's Asian session continued to create a new ATH level compared to yesterday. Easily observe an uptrend channel at H1 with a good buying zone of 186x, everyone should pay attention
Note
Despite benefiting from developments in the Middle East, analysts also note that gold remains sensitive to rising bond yields. The WGC said this tug-of-war could create some volatility in the gold market in the fourth quarter and any decline should be seen as a buying opportunity.Note
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