Uptrend for next week on the XAUUSD !!
Updated
As we can see, gold is consolidating and will look to move higher for several reasons:
Major concerns around gold include the likely implementation of tariffs on European and Chinese imports by the Trump administration, combined with an easing of business regulations and fiscal policy
Gold prices are expected to remain supported by geopolitics, particularly the escalating conflict between Israel and Hamas, as well as the protracted war in Ukraine.
In summary, the prospects of a resurgence of inflation in the US economy and its direct impact on the Fed's opinion should keep gold prices under review, but do not rule out deeper declines in the future. Once looser fiscal policy and tariffs begin, it will be time to evaluate the extension and duration of these policies, which will allow the yellow metal to begin to regain some of the lost shine.
The DXY index is also on a resistance level and could possibly go lower
On the upside, resistance could form at the 55-day moving average around $2,638. If gold manages to recover beyond this level, it could target the recent all-time high of $2,790 set in late October, with Fibonacci extensions of the 2024 rise to $3,009, $3,123 and 3 $288.
Major concerns around gold include the likely implementation of tariffs on European and Chinese imports by the Trump administration, combined with an easing of business regulations and fiscal policy
Gold prices are expected to remain supported by geopolitics, particularly the escalating conflict between Israel and Hamas, as well as the protracted war in Ukraine.
In summary, the prospects of a resurgence of inflation in the US economy and its direct impact on the Fed's opinion should keep gold prices under review, but do not rule out deeper declines in the future. Once looser fiscal policy and tariffs begin, it will be time to evaluate the extension and duration of these policies, which will allow the yellow metal to begin to regain some of the lost shine.
The DXY index is also on a resistance level and could possibly go lower
On the upside, resistance could form at the 55-day moving average around $2,638. If gold manages to recover beyond this level, it could target the recent all-time high of $2,790 set in late October, with Fibonacci extensions of the 2024 rise to $3,009, $3,123 and 3 $288.
Trade active
I'd wait for the pullback on the resistance to long it to a 4:1 rr, if not, we are not on the big uptrend that is comming yet.
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