GOLD: Still Bullish But Caution Required for FX:XAUUSD by KlejdiCuni

GOLD: Still Bullish But Caution Required

GOLD: Still Bullish But Caution Required

Following our analysis from yesterday, GOLD has reached all its targets. However, today, GOLD created a new all-time high, which was unexpected given the lack of significant economic events and the ongoing positive discussions about peace between Ukraine and Russia.

This new bullish breakout suggests potential for further growth. However, it is essential to exercise caution due to the possibility of false breakouts.

You may watch the analysis for further details!
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📣GOLD Analysis

From our analysis yesterday, GOLD experienced a false breakout, reaching a new all-time high of 2946.80 before dropping to a low of 2918.50.

Although my initial concern about GOLD was validated, it couldn't descend further to the bottom near 2880.

We need to exercise caution once again. Despite GOLD hitting a new high today and maintaining its strong prevailing trend, the possibility of another false breakout remains, especially given the empty economic calendar and the market's focus on Trump's tariffs.

Currently, GOLD remains bullish, with potential targets at 2960, 2970, and 3000, as shown in the chart.

Note

I hope you read and watched the analysis above.
From 2954 to 2924 - crazy day

KlejdiCuni

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