XAUUSD is updating its local maximum but is facing pressure in the 3375-3400 zone. The market is bullish, but the dollar is consolidating. Traders are waiting for signals and stronger drivers...
Gold resumes growth, approaching the $3400 level, amid a weakening dollar and falling US government bond yields.
Key drivers: Trump's new threats of tariffs on Chinese goods and his attack on the Fed (removal of Lisa Cook) are undermining confidence in US assets (pressure on the dollar).
Soft Fed rhetoric: Expectations of a September rate cut have strengthened after Powell's speech.
Key risks: The dollar's recovery amid trade threats, US economic data may adjust rate expectations, and the escalation of the trade war supports demand for safe assets
The short-term dynamics of gold will depend on the balance between the Fed's soft monetary policy and trade tensions.
Resistance levels: 3379, 3400
Support levels: 3369, 3362, 3358
As part of the correction, the market may test local support zones located within the current trading range, after which gold may return to attack 3375-3379 to continue its growth towards 3400.
Best regards, R. Linda!
🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.