XAUUSD | GOLDSPOT | New perspective | follow-up detailsWith increasing geopolitical tensions in the Middle East, having Gold in your portfolio can serve as a perfect hedge against international turmoil. As investors closely monitor events in Israel, any increase in geopolitical risk is certain to trigger panic demand for safe-haven buying in gold. Our analysis indicates that the rally is likely to reach $1930 in a quick chase.
Last Friday, buying pressure built up within the $1,810 zone after markets reacted positively to the US Non-Farm Payrolls report. The report handily beat the street, printing at a forecast-clobbering 336K against the anticipated 170K, and the previous figure was also revised higher to 227K from 187K. As a result, market sentiment has turned firmly bullish, taking XAUUSD back up the charts after most of the week saw spot Gold prices firmly on the low end.
XAUUSD Technical Analysis:
In this video, we dissected the XAUUSD chart from a technical standpoint, analyzed the key levels, analyzed historical price moves, market behaviors, and buyer-seller dynamics, and uncovered potential trading opportunities.
The $1,810 and $1,830 zones will remain our center stage for this week. Its historical significance makes it a crucial point. If the bearish momentum is sustained then the breakdown of the $1,810 and the support line on the 4H timeframe could incite a strong downtrend continuation. However, for a sustained recovery the asset has to recapture the crucial $1,830.00.
Stay tuned for more thrilling updates on the Gold market! Remember, trading involves risks, and I always recommend exercising caution and seeking advice from financial professionals. Hit the like button if you found this analysis helpful, and don't forget to subscribe for more insightful content! 📺🔔💼
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