Gold Holds Its Bullish Structure as Support Zone Proves Its Strength
From the analysis shared earlier this week, GOLD moved from 4194 to 4247 after retesting the support zone once again.
The chart clearly shows that this support area remains extremely strong, even during the volatility of the FOMC meeting.
Gold was rejected multiple times near the 4180 region, reinforcing the probability of a continued bullish wave.
As mentioned before, Gold has lost its traditional correlation with DXY and USD for quite some time. The market is driven heavily by speculation and manipulation, making GOLD a risky instrument.
However, as long as the price holds above the support zone and maintains its bullish structure, further upside remains possible.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
✅Previous analysis:
From the analysis shared earlier this week, GOLD moved from 4194 to 4247 after retesting the support zone once again.
The chart clearly shows that this support area remains extremely strong, even during the volatility of the FOMC meeting.
Gold was rejected multiple times near the 4180 region, reinforcing the probability of a continued bullish wave.
As mentioned before, Gold has lost its traditional correlation with DXY and USD for quite some time. The market is driven heavily by speculation and manipulation, making GOLD a risky instrument.
However, as long as the price holds above the support zone and maintains its bullish structure, further upside remains possible.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
✅Previous analysis:
Trade closed: target reached
Note
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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.
✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Disclaimer
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.