XAUUSD continues its uptrend at $2250
Overall, XAUUSD has completed a cup and handle pattern (as shown on chart 1W). From a personal and theoretical perspective, XAUUSD should grow further.
It is worth noting that the mentioned support zones range from Fibonacci 0.786 (2250) USD, the uptrend could get even stronger if it receives strong buying pressure from this support level. But! Based on the setup and model, there is a high possibility of seeing growth.
-NFP is ahead, quite important news, which can both turn the market around and strengthen the current trend.
New outlook for XAUUSD: Acceptance above $2305 will be seen as fresh impetus for bullish traders and set the stage for an extension of the recent breakout witnessed in about two weeks via.
About XAUUSD information: The famous Non-Farm Payrolls (NFP) report will be reviewed to find new signals on the Fed's interest rate cutting roadmap, which will boost USD demand and create momentum for pricing. The new direction for Gold prices is not profitable. Meanwhile, persistent geopolitical tensions stemming from the Russia-Ukraine war and the risk of further conflict escalation in the Middle East should act as favorable drivers for safe-haven XAU/USD . This will limit any meaningful correction from the all-time high.
Technical analysis for gold continues to rise as long as the $2,250 support level holds. Fibonacci also points to a retracement in gold prices at 0.786. The uptrend could become even stronger if it receives strong buying pressure from this support level.
With the current picture, can we expect a gold price race to new heights? And you, do you expect a wave of gold price increases? Share your thoughts on where gold goes next in this exciting market!
It is worth noting that the mentioned support zones range from Fibonacci 0.786 (2250) USD, the uptrend could get even stronger if it receives strong buying pressure from this support level. But! Based on the setup and model, there is a high possibility of seeing growth.
-NFP is ahead, quite important news, which can both turn the market around and strengthen the current trend.
New outlook for XAUUSD: Acceptance above $2305 will be seen as fresh impetus for bullish traders and set the stage for an extension of the recent breakout witnessed in about two weeks via.
About XAUUSD information: The famous Non-Farm Payrolls (NFP) report will be reviewed to find new signals on the Fed's interest rate cutting roadmap, which will boost USD demand and create momentum for pricing. The new direction for Gold prices is not profitable. Meanwhile, persistent geopolitical tensions stemming from the Russia-Ukraine war and the risk of further conflict escalation in the Middle East should act as favorable drivers for safe-haven XAU/USD . This will limit any meaningful correction from the all-time high.
Technical analysis for gold continues to rise as long as the $2,250 support level holds. Fibonacci also points to a retracement in gold prices at 0.786. The uptrend could become even stronger if it receives strong buying pressure from this support level.
With the current picture, can we expect a gold price race to new heights? And you, do you expect a wave of gold price increases? Share your thoughts on where gold goes next in this exciting market!
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Comment:
Recent developments in gold have fueled optimism in the market. The results of Kitco News's latest weekly gold survey show that the majority of both Wall Street experts and retail investors believe gold will surge even stronger next week amid concerns about a The sell-off following recent gains has been drowned out by broader concerns about geopolitical instability.
