Gold futures declined on Thursday, ending a three-day winning streak after the White House postponed car import tariffs, easing investor concerns. Markets now await the European Central Bank's interest rate decision and U.S. unemployment claims data, which could influence the U.S. dollar and, in turn, gold prices.
Currently, the price is undergoing a correction process toward 2904. From this level, we anticipate a decline, with the price expected to break below 2893. Notably, 2893 has been confirmed as a strong support level. If the price moves below this point, it is likely to reach 2879 and 2858.
However, if the price closes above 2904 on either the 1-hour or 4-hour timeframe, an upward movement is expected, potentially reaching 2918.
Bearish target: 2893, 2879, 2858
Bullish target: 2904, 2918, 2935
Currently, the price is undergoing a correction process toward 2904. From this level, we anticipate a decline, with the price expected to break below 2893. Notably, 2893 has been confirmed as a strong support level. If the price moves below this point, it is likely to reach 2879 and 2858.
However, if the price closes above 2904 on either the 1-hour or 4-hour timeframe, an upward movement is expected, potentially reaching 2918.
Bearish target: 2893, 2879, 2858
Bullish target: 2904, 2918, 2935
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The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.