Gold price drifts lower as signs of easing US-China trade tensions undermine safe-haven demand. The USD reverses a part of the overnight slide and exerts additional pressure on the XAU/USD pair. Fed rate cut bets might cap the USD and help limit losses for the commodity amid geopolitical risks.
Conversely, if Gold buyers defend the abovementioned channel support at $3,300, a rebound toward the $3,370 static resistance will be inevitable.
Xauusd buy 3317
Support 3333
Support 3349
Target 3360
Stop loss 3284
Conversely, if Gold buyers defend the abovementioned channel support at $3,300, a rebound toward the $3,370 static resistance will be inevitable.
Xauusd buy 3317
Support 3333
Support 3349
Target 3360
Stop loss 3284
Trade active
Xauusd buy 130 pips done Trade closed: target reached
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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.