GOLD 11/05: Scalp ahead of tonight's PPI news

GOLD Gold prices increased their bid to refresh the intraday high near 2,035$ early Thursday, reversing the previous day's retracement from a one-month-old horizontal resistance. Precious metals benefit from broad US Dollar weakness.
The XAU/USD pair maintains a neutral to bullish view in the daily chart. The pair is growing above all of its moving averages, although the 20 Simple Moving Average (SMA) has lost its positive momentum, currently hovering around 2,010$.
The 4-hour chart shows that XAU/USD holds above the bearish 20 SMA, while the longer moving averages are not below it. Technical indicators head south but remain neutral, not enough to confirm another drop. Gold could extend its decline, but buyers are likely to reappear around 2,026$ as the US Dollar's current strength may be temporary.


BUY GOLD 2026 - 2030

Stoploss: 2022

Take profit 1: 2033
Take profit 2: 2037
Take profit 3: 2043


SELL GOLD 2045 ́2048

Stoploss: 2052

Take profit 1: 2040
Take profit 2: 2035
Take profit 3: 2025

Trade closed: target reached:

BUY 2026 => to 2041. +150pips ✅✅✅