XAU/USD: Demand Remains Strong
Updated
XAUUSD Hello Traders, it's evident that the XAU price in the market is currently exhibiting a robust demand, maintaining its strength above the 1900 mark. This resilience in the face of various market dynamics suggests a bullish sentiment among investors. Analyzing the market's behavior, there's a likelihood of a temporary retracement towards the nearest support levels or the 50% Fibonacci retracement level. Such pullbacks are often seen as healthy corrections in a strong uptrend. Post this retracement, I anticipate a continuation of the bullish trend. The market's momentum, backed by strong demand and favorable macroeconomic factors, positions XAU to potentially reach my targeted price points. This outlook is not just based on current market trends but also on a comprehensive understanding of underlying economic indicators and geopolitical influences that often sway the precious metals market.
Targets: 1945,1963, 1983---- long Term Target: 2016
DXY https://www.tradingview.com/chart/DXY/34glg3s3-DXY-Retracement-or-Reversal/
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Note
One of the TP has been reachedNote
Second TP has been reachedTrade closed: target reached
You could choose to safeguard your profits by implementing a trailing stop-loss for enhanced security, or you might opt to maintain your current positions, allowing them to run with a stop-loss set at a profitable level.
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