XAU/USD | Bullish trend ready to reach $2060.

29 ene

Gold has shown a reversal in trend, dropping below $2,030 after an initial increase to $2,040. Despite the strength of the US dollar, XAU/USD has maintained positive territory thanks to the decline in US yields and growing tensions in the Middle East. On the daily chart, the pair has modest intraday gains but remains below a 20-period simple moving average (SMA). Longer-term moving averages lack directionality. Technical indicators have slightly improved but remain negative, indicating limited upside prospects. In the short term (4-hour chart), XAU/USD is in a neutral phase, with moving averages lacking directional strength. Technical indicators suggest diminishing short-term buying interest. Support levels are at $2,019.20, $2,010.00, and $2,001.60, while resistance levels are at $2,033.10, $2,040.30, and $2,052.60. The week saw gold open with a higher gap at $2,037.46, but the dollar recovered during the American session. Geopolitical tensions, especially between the US and Iran, have influenced the markets. Investors are awaiting economic data and monetary policy decisions, with a focus on earnings and comments from the ECB attempting to temper expectations of an interest rate cut in April.

31 ene

Nota

In my opinion, price will reach the level 2060 after the Fed this afternoon.