XAUUSD H4 Idea

During the recent trading week, the gold markets experienced a rally, surpassing the 1950 level and indicating a potential upward movement towards 1975 and even 2000. This development presents an opportunity for investors to acquire gold during short-term pullbacks, taking advantage of lower prices.

With all factors considered, the market appears poised for further upside momentum, especially if the US dollar continues to weaken. However, it is essential to bear in mind the possibility of a downside break below the 50-Week EMA, which could result in a significant drop, potentially reaching the $1800 level. Although this scenario seems unlikely at present, it is prudent to acknowledge both sides of the trade.

Currently, the focus remains on the bullish side, and buying opportunities are expected during price dips. Shorting gold is not a consideration unless the market breaks below the 50-Week EMA, a situation that is currently far from occurring. Over time, it is likely that the $2000 level will be tested, representing an intermediate target in the future. However, given the inherent volatility of the market, it is important to anticipate fluctuations and noise during the trading process.

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Comment:

NEW IDEA

XAUUSD Update: Gold prices have experienced a slight increase due to a weaker U.S. dollar and the evolving monetary policy outlook of the Federal Reserve. Gold is poised for potential gains as the Fed nears the end of its tightening cycle and expectations of lower real yields emerge. Moreover, investors consider gold a safe haven against global growth concerns and other risk-off market events. As central banks worldwide respond to inflationary pressures, gold’s appeal may strengthen further. Investors are also closely monitoring retail sales data from the U.S. and its impact on market sentiment.

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XAUUSD Moving well as per chart +180pips #accuracy