XAUUSD : Gold buyers are gradually weakening.
Updated
With the USD returning to upward momentum recently, gold prices have witnessed a slight correction to important support zones.
World gold prices fluctuated strongly on Tuesday when the USD recovered, due to increased US government bond yields. However, geopolitical tensions in the Middle East are a factor helping to stop the decline of gold. Currently, the price has returned to trendline support around $2,030, which is an important level that buyers need to hold to limit gold's further decline.
Gold is under selling pressure as the USD increases thanks to the recovery in US government bond yields across all terms.
Immediate support to watch is at $2,027, with the next target being the 50-day MA at $2,020. If Gold does not break through this support, it is likely that gold will find the resistance level of 2047. Buyers will regain their position after yesterday's decline.
World gold prices fluctuated strongly on Tuesday when the USD recovered, due to increased US government bond yields. However, geopolitical tensions in the Middle East are a factor helping to stop the decline of gold. Currently, the price has returned to trendline support around $2,030, which is an important level that buyers need to hold to limit gold's further decline.
Gold is under selling pressure as the USD increases thanks to the recovery in US government bond yields across all terms.
Immediate support to watch is at $2,027, with the next target being the 50-day MA at $2,020. If Gold does not break through this support, it is likely that gold will find the resistance level of 2047. Buyers will regain their position after yesterday's decline.
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🔝 XAUUSD : Trading plan January 17, 2024🪙 We have 2 levels to have a good entry for the BUY signal :
💲 Entry 1 Buy Scalping : 2025$ - 2027$
💵TP1 : 2033
💵TP2 : 2040
🔴 SL : 2020
💲Entry 2 Buy Limit : 2021 - 2023
💵TP1 : 2030
💵TP2 : 2035
🔴 SL : 2015
🪙 We have 2 levels to have a good entry for the SELL signal :
💲Entry 1 Sell (Scalping) :
💵TP1 :
💵TP2 :
🔴 SL :
💲Entry 2 Sell Limit :
💵TP1 :
💵TP2 :
🔴 SL :
⚡️⚡️⚡️Note: For transactions, please leave full TP and SL to ensure safety and bring profit from the market. ‼️
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Entry 2 Buy Limit - Hit 50 pips
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