XAUUSD-WEEKLY ANALYSIS-24/09/2023
Updated
Traders, this week, we're expecting gold (XAU/USD) to go down because the US dollar is strong. Before that happens, there might be some ups and downs in the market, possibly due to short-term moves.
But the key day to watch is Thursday. Gold could drop more as the US dollar gets stronger. The relationship between gold and the US dollar often guides the market.
Stay cautious and flexible with your trading strategy. Keep an eye on economic news and indicators that can help you understand the dollar's strength and market changes. Always remember to manage your risks and have a clear plan when trading.
But the key day to watch is Thursday. Gold could drop more as the US dollar gets stronger. The relationship between gold and the US dollar often guides the market.
Stay cautious and flexible with your trading strategy. Keep an eye on economic news and indicators that can help you understand the dollar's strength and market changes. Always remember to manage your risks and have a clear plan when trading.
Note
The first move down was completed on Monday. Now, let's keep an eye on Tuesday to see if it initiates the second part of the correction, possibly beginning with a slight drop before the anticipated rise. Stay tuned!
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