Buying XAUUSD channel formation
Dear friends, what do you think about the next trend in Gold?
Today, the price of gold has regained momentum, rising nearly $2,030 at the start of Thursday after a brief pause in its recovery on Wednesday. The market's risk-accepting environment is playing a role as a resistance to the US Dollar, despite the hawkish tone of the January meeting minutes from the US Federal Reserve.
Furthermore, recent price action suggests that gold is holding above the support level, with upward momentum supported around 2015 and 2020.
On the other hand, technical indicators such as the EMA 34 and 89 continue to consider a potential buying position. Trading with the trend is always safe and effective.
Today, the price of gold has regained momentum, rising nearly $2,030 at the start of Thursday after a brief pause in its recovery on Wednesday. The market's risk-accepting environment is playing a role as a resistance to the US Dollar, despite the hawkish tone of the January meeting minutes from the US Federal Reserve.
Furthermore, recent price action suggests that gold is holding above the support level, with upward momentum supported around 2015 and 2020.
On the other hand, technical indicators such as the EMA 34 and 89 continue to consider a potential buying position. Trading with the trend is always safe and effective.
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