Gold has broken into uncharted territory, printing a new ATH, reflecting ongoing global uncertainty and strong safe-haven demand. As per my analysis, bullish momentum is likely to continue today, supported by both technical and fundamental factors.
🔍 Technical Outlook:
Structure: Strong bullish structure with consecutive higher highs and higher lows.
Support Zone (Buy Area): $3362 – $3357 🟩
Immediate Resistance: Minor resistance seen around $3392 – however, low probability of reversal from this zone.
Target Zones:
🎯 Primary Targets: $3410 – $3430
Trend Indicators:
Price trading well above key EMAs (20 & 50)
RSI remains in the bullish zone, with no immediate signs of divergence
Market Structure Breaks confirm upward continuation
🛠️ Trading Plan:
📌 Buy Entry Zone: $3362 – $3357
📈 Targets: $3410 / $3430
❗ Caution: Minor rejection possible near $3392, but bearish move from this level is unlikely unless triggered by unexpected news.
🔒 Risk Management: Use tight SL below $3350 and adjust position size based on account risk parameters.
🚨 Stay alert for any unexpected macroeconomic news or Fed commentary that could introduce volatility.
Trade active
🎯 XAUUSD Target Smashed!"Patience. Precision. Profits. 💸 Gold roared to our targets at $3410 & $3430 — plan executed flawlessly! 🔥📈 #TradeWithRay #GoldAnalysis
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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.
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.