XAUUSD continues to rise amid weakening dollar demand due to Trump's imposition of new tariffs. GDP and Initial Jobless Claims ahead
Gold is further supported by renewed concerns about a slowdown in the US economy due to trade duties. However, growth beyond ATH remains questionable due to geopolitical nuances. The market focus shifts to macroeconomic data: the final US GDP for the fourth quarter and jobless claims will be released today. Also the attention will be drawn to the speeches of the Fed representatives, who earlier made it clear that they are in no hurry to cut rates due to inflation risks caused by Trump's tariff policy
Resistance levels: 3038, 3046, 3056 Support levels: 3033, 3025
The strong resistance is 3038. Breakdown and price consolidation above this level will provoke continuation of growth (there is a chance of ATH retest). But, since there is news ahead, gold may test the zone of interest and liquidity 3030-3025 before further growth.
Regards R. Linda!
Trade active
Gold breaks through the indicated resistance of 3038 and reaches ATH Realization 100% :)
Note: If there is no deep pullback and the price continues to consolidate near ATH, the level may be broken and the rise may continue
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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.