Gold Trends in European and US Trading Sessions
News:
🔆XAU/USD hit a record high of $2,817.23 an ounce on January 31 after US President Donald Trump imposed 25% tariffs on imports from Canada and Mexico, along with a 10% tariff on goods from China, raising concerns about a global trade war.
🔆Gold prices are forecast to reach $3,000 an ounce by the end of 2025, based on expectations of interest rate cuts and increasing global uncertainty.
🔆However, gold prices fell nearly 1% on Monday. The decline was largely due to President Trump's tariff policies, which have strengthened the US dollar in the short term.
Technical analysis:
Support: The $2,770 area (European trading session) is considered a key support level. If gold holds above this level, the uptrend could continue.
Resistance: The record high of $2,817.23/ounce is now a major resistance level. Breaking through this level could open up new bullish momentum for gold.
Conclusion:
🔆Gold prices are still in a strong uptrend. However, gold prices are in a correction phase due to the strengthening of the US dollar. However, the demand for gold as a safe-haven asset could limit the decline. Monitoring economic and political developments, especially trade policies and fluctuations in the US dollar, will be important to predict the gold price trend in the coming time.
Analysis based on resistance - support zones combined with Fibonacci
Plan:
🔆Setting a price range:
👉 Buy gold 2768 - 2770 (EUROPEAN TRADING SESSION)
❌SL: 2761 | ✅TP: 2773 – 2780 – 2790
👉 Sell gold 2817 -2820
❌SL: 2824 | ✅TP: 2812 - 2806 – 2800
👉 Buy gold 2748 – 2750
❌SL: 2744 | ✅TP: 2755 – 2762 – 2770
Thank you for reading my comment: "FM"
🔆XAU/USD hit a record high of $2,817.23 an ounce on January 31 after US President Donald Trump imposed 25% tariffs on imports from Canada and Mexico, along with a 10% tariff on goods from China, raising concerns about a global trade war.
🔆Gold prices are forecast to reach $3,000 an ounce by the end of 2025, based on expectations of interest rate cuts and increasing global uncertainty.
🔆However, gold prices fell nearly 1% on Monday. The decline was largely due to President Trump's tariff policies, which have strengthened the US dollar in the short term.
Technical analysis:
Support: The $2,770 area (European trading session) is considered a key support level. If gold holds above this level, the uptrend could continue.
Resistance: The record high of $2,817.23/ounce is now a major resistance level. Breaking through this level could open up new bullish momentum for gold.
Conclusion:
🔆Gold prices are still in a strong uptrend. However, gold prices are in a correction phase due to the strengthening of the US dollar. However, the demand for gold as a safe-haven asset could limit the decline. Monitoring economic and political developments, especially trade policies and fluctuations in the US dollar, will be important to predict the gold price trend in the coming time.
Analysis based on resistance - support zones combined with Fibonacci
Plan:
🔆Setting a price range:
👉 Buy gold 2768 - 2770 (EUROPEAN TRADING SESSION)
❌SL: 2761 | ✅TP: 2773 – 2780 – 2790
👉 Sell gold 2817 -2820
❌SL: 2824 | ✅TP: 2812 - 2806 – 2800
👉 Buy gold 2748 – 2750
❌SL: 2744 | ✅TP: 2755 – 2762 – 2770
Thank you for reading my comment: "FM"
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âś… t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
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.