XAU/USD trend in today's EUROPEAN and US session🔔🔔🔔 Gold news:
👉 February’s data increased the odds that the Federal Reserve (Fed) might cut interest rates thrice in 2025. Nevertheless, Fed officials, led by Chair Jerome Powell, had expressed that they did not look at just one month of data.
👉 In the meantime, US Treasury yields climbed amid fears that the global trade war could push prices higher. Consequently, the US Dollar Index (DXY), which tracks the Greenback’s value against six currencies, gains 0.14% to 103.55.
👉 On Wednesday, 25% US tariffs on steel and aluminum took effect at midnight as US President Donald Trump is battling to reduce the trade deficit by applying duties on imports.
👉The non-yielding metal is poised to extend its rally, even though there is progress on a truce between Ukraine and Russia.
👉 The World Gold Council (WGC) revealed that central banks continued to purchase Gold. The People’s Bank of China (PBoC) and the National Bank of Poland (NBP) added 10 and 29 tonnes in the first two months of 2025, respectively.
Personal opinion:
👉 Gold has found new momentum to maintain its upward momentum, the 3000 da level is not far away.
👉Technically, RSI (1H) has entered the overbought zone and is showing signs of a reversal in the short term. This may be the best time to buy gold at a good price for you.
Analysis:
👉 Based on important resistance - support and Fibonacci levels combined with Pivot points to come up with a suitable strategy
🔆 Resistance level: 2.948 2.956 2.70
🔆 Support level: 2.930 2.920 2.905
Plan:
🔆 Price Zone Setup:
👉Buy Gold 2.930 – 2.933
❌SL: 2.926 | ✅TP: 2.937 – 2.942 – 2.949
👉Sell Gold 2.955 – 2.957 (Scalping)
❌SL: 2.961 | ✅TP: 2,952 – 2,948 – 2,943
👉Sell Gold 2,970 – 2,972
❌SL: 2,976 | ✅TP: 2,965 – 2,960 – 2,955
FM wishes you a successful trading day 💰💰💰
