💡XAUUSD:Strong increase thanks to economic policies from the US
Updated
➡️ Recent trends in gold prices are primarily influenced by US monetary policy. Gold has successfully surpassed the $2,000 level and is anticipated to conclude the week with positive gains for the second consecutive time. Despite this, some organizations hold the view that the potential for further increases in gold prices is limited. The Federal Reserve's commitment to tightening monetary policy suggests that overcoming the current resistance level could be challenging for gold. Additionally, the agreement on a limited ceasefire between Israel and Hamas has diminished the attractiveness of gold.
➡️ On the H4 chart, gold made an attempt to break out but faced resistance, with the MACD histogram bar and double line indicating a potential peak divergence. The most significant risk for gold is associated with a strengthening USD, driven by rising bond yields and overbought conditions.
➡️ On the H4 chart, gold made an attempt to break out but faced resistance, with the MACD histogram bar and double line indicating a potential peak divergence. The most significant risk for gold is associated with a strengthening USD, driven by rising bond yields and overbought conditions.
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