XAU / USD trend forecast February 17, 2025, Scalping European session
The US Dollar remains subdued, hovering near its lowest level since December 17, following the release of disappointing US Retail Sales data on Friday. This weakness in the greenback has rekindled investor appetite for gold, supporting its price.
According to the US Census Bureau, Retail Sales in January saw a sharper-than-expected decline of 0.9%, significantly missing market forecasts of a modest 0.1% drop. This marked a stark contrast to the upwardly revised 0.7% increase recorded in December (previously reported as 0.4%).
H1 frame, gold price breaks support 2902 and forms DOW uptrend, waiting for BUY retest entry point
/// BUY XAU : zone 2902-2899 SCALPING
SL: 2896
TP: 50 - 70 - 150pips (2914)
Safe and profitable trading
The US Dollar remains subdued, hovering near its lowest level since December 17, following the release of disappointing US Retail Sales data on Friday. This weakness in the greenback has rekindled investor appetite for gold, supporting its price.
According to the US Census Bureau, Retail Sales in January saw a sharper-than-expected decline of 0.9%, significantly missing market forecasts of a modest 0.1% drop. This marked a stark contrast to the upwardly revised 0.7% increase recorded in December (previously reported as 0.4%).
H1 frame, gold price breaks support 2902 and forms DOW uptrend, waiting for BUY retest entry point
/// BUY XAU : zone 2902-2899 SCALPING
SL: 2896
TP: 50 - 70 - 150pips (2914)
Safe and profitable trading
Trade active
Sideway price area 2890-2900 in the US session Monday (Bank Holiday)
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💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
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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.
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
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.