ear friends, gold has returned to trading below the $2000 mark. Betting that the Fed’s interest rate hike is complete will likely lead to new USD sales and still be supportive. It needs to surpass the resistance level of $2010 to support further growth prospects.
On the 1-hour chart, XAU/USD is still on an upward trend. So far, gold has found support at $1988. A drop below this level would increase negative pressure, revealing the $1980 area and the short-term upward trend line needs to be maintained to avoid significant downside prospects. If the price recovers to $1995, another approach to the $2010 level may occur.
Support levels: $1988, $1978, $1970 Resistance levels: $1995, $2010, $2023
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On the 1-hour chart, XAU/USD is still on an upward trend. So far, gold has found support at $1988. A drop below this level would increase negative pressure, revealing the $1980 area and the short-term upward trend line needs to be maintained to avoid significant downside prospects. If the price recovers to $1995, another approach to the $2010 level may occur.
Support levels: $1988, $1978, $1970 Resistance levels: $1995, $2010, $2023
If you’re looking to rephrase a text, you can use the free online paraphrasing tool from Rephrase.info1. This tool can help you rephrase your sentences and make them unique. It can replace words with synonyms or use similar sentence structures. You can also upload documents to rephrase them. It’s useful for writing blog articles, creating unique articles, and writing for marketing. It’s also helpful for students who want to make their assignments plagiarism-free and easy to understand. Teachers can also use it for study notes, reports, and quizzes. Journalists can use it to rephrase text in a clear and concise way for readers. Researchers can use it to summarize and synthesize information from multiple sources. Give it a try! 😊