XAUUSD is in a bull run phase due to rising risks. The price is testing new highs and trying to consolidate above key resistance. Trump's speech is ahead and high volatility should be expected.Gold price is consolidating in the bullish zone after breaking through the three-top resistance. Traders are analyzing the impact of President Trump's tariff policies, which have caused uncertainty in the markets and weakened demand for the dollar and bonds. Meanwhile, support for gold prices is provided by optimism from China's measures to stimulate stock markets.
Investors' attention is focused on US economic data, including weekly jobless claims and Friday's PMI from S&P Global, which could affect expectations for a Fed rate cut. Weak statistics will reinforce forecasts of two rate cuts this year, which supports interest in gold.
Technically, the focus is on 2750. If bulls hold their defenses above this zone, gold could head towards ATH.
Resistance levels: 2750, 2762
Support levels: 0.5 fibo, 2732
Bullish trend, high risks, politics. Lots of reasons that support the metal. But, today is Trump's speech, and this man knows how to make noise in the market. High volatility is possible. But, in general, gold looks as if it is ready to go up, perhaps it can even renew ATH
Regards R. Linda!
Trade active
False breakdown of 0.5 fibo and gold flies away by 230 pips!
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🌹TRADING is a CASINO💔!?
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You❗️CAN and ❗️SHOULD make money in trading!
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You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
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Disclaimer
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