XAUUSD it's essential to consider the symbiotic relationship between
XAUUSD and 
DXY . The DXY has recently shown considerable strength, underpinned by robust U.S. economic indicators such as a 2.1% GDP growth rate, moderate inflation at 0.6% MoM, and a 5.5% interest rate, signaling a tightening monetary policy. This strength in DXY typically exerts downward pressure on gold prices. However, XAU/USD has defied this trend by forming a bullish structure around the $1900 support level, as per my previous forecast. After a minor retracement, which is a common feature of strong uptrends, I'm optimistic that XAU/USD is poised to hit my next targets around $1950 and $1960 in the near term. Given the bullish indicators in DXY and their potential impact on gold...Targets: 1936, 1940...
Possible Target ( 1960 )
Previous forecast:
https://www.tradingview.com/chart/XAUUSD/iAVUIg9v-XAU-USD-Upholding-the-Bullish-Trend/
Overall view:
https://www.tradingview.com/x/RXsvZp54/
"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
Order cancelled
Related publications
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.
Related publications
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.