GOLD WILL CONTINUE UPTREND
Updated
hello guys again new week is coming . in my last forecast as i expected the price rejected from the resistance level and reached to my first target .
lets start new analysis as you can see price reach to 2750 resistance it was a false break out market made a triangle range area after gold rejected from the resistance returned to the range area .
at the end of the week gold broke range area and i think gold want retest the resistance
Predicting the gold price trend for this week depends on several factors, including technical and fundamental analysis. Here are a few key points that are relevant for a short-term analysis:
1. Technical Analysis: If the previous uptrend continues and the price holds above key support levels (like the 50 or 200-period moving averages), there’s a higher probability of an upward trend. However, if candles break below these levels, a downward trend may be more likely.
2. Fundamental Analysis: Pay attention to important economic reports this week, like interest rate announcements from central banks (especially the U.S. Federal Reserve), inflation rates, and other economic indicators. If these reports show slower economic growth or high inflation, gold may become more attractive as a safe-haven asset and could likely move upwards. Conversely, positive economic news could put pressure on gold prices.
3. U.S. Dollar Index (DXY): Gold and the U.S. dollar typically have an inverse relationship. If the U.S. dollar weakens this week, it could support gold prices, and vice versa.
4. Geopolitical Factors: International tensions and political instability can also favor gold, potentially driving prices up.
lets start new analysis as you can see price reach to 2750 resistance it was a false break out market made a triangle range area after gold rejected from the resistance returned to the range area .
at the end of the week gold broke range area and i think gold want retest the resistance
Predicting the gold price trend for this week depends on several factors, including technical and fundamental analysis. Here are a few key points that are relevant for a short-term analysis:
1. Technical Analysis: If the previous uptrend continues and the price holds above key support levels (like the 50 or 200-period moving averages), there’s a higher probability of an upward trend. However, if candles break below these levels, a downward trend may be more likely.
2. Fundamental Analysis: Pay attention to important economic reports this week, like interest rate announcements from central banks (especially the U.S. Federal Reserve), inflation rates, and other economic indicators. If these reports show slower economic growth or high inflation, gold may become more attractive as a safe-haven asset and could likely move upwards. Conversely, positive economic news could put pressure on gold prices.
3. U.S. Dollar Index (DXY): Gold and the U.S. dollar typically have an inverse relationship. If the U.S. dollar weakens this week, it could support gold prices, and vice versa.
4. Geopolitical Factors: International tensions and political instability can also favor gold, potentially driving prices up.
Note
As i expected gold retest 2750 resistance Note
Near target1
+230 pips
Trade closed: target reached
price exactly moved according my forecast
perfect +300 pips
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