XAUUSD
price sticks to the range-bound theme near $2,025 during the early Asian trading hours on Tuesday. The positive momentum in yellow metal remains intact, supported by a modest pullback in the US Dollar and lower US Treasury bond yields. From a technical perspective, any subsequent move up is likely to confront stiff resistance near the $2,040 supply zone, above which the Gold price could aim to retest last week's swing high, around the $2,049-2,050 region. Some follow-through buying will be seen as a fresh trigger for bullish traders and pave the way for a move towards the next relevant barrier near the $2,072-2,073 area. The momentum could get extended further and allow the
XAUUSD
to reclaim the $2,100 round-figure mark. On the flip side, the $2,015-2,010 horizontal resistance breakpoint might continue to protect the immediate downside ahead of the $2,000 psychological mark. A convincing break below the latter will make the Gold price vulnerable to challenge the 50-day SMA support, currently pegged near the $1,982-1,981 region. This is followed by last week's swing low, around the $1,973 area, and the 200-day SMA, near the $1,956-1,955 zone, which if broken decisively will shift the near-term bias in favour of bearish traders.
XAUUSD
PLAN 12/19 🔴SELL Watch Price range 2048$ - 2050$. Stoploss: 2055$
BUY Price range 2020$ - 2022$. Stoploss: 2015$
Note: Full TP, SL to be safe and win the market ‼️
❌Pay attention to the important SELL 2030$ price range. BREAK
XAUUSD
easily creates entry 2040$ - 2038$ 