XAUUSD is bullish per the 4 hour and 1 hour timeframe with continued bullish momentum coming out of the fundamentals around tariff uncertainty. There is clear bullish market structure.
XAUUSD is currently sitting on the pivot level of $3350 (Resistance turned support) after a retracement prior for the NY opening bell which gives rise for a long opportunity from this level towards the next Pivot point at $3391.
On the hour timeframe, price is trading above the 50 and 200 SMA and is currently sitting upon the 21 SMA which XAUUSD has used push point from in the past trending markets. RSI is currently sitting in a sweet spot region of the RSI between 45-55 indicating this is a valid retracement and price is looking to turn bullish again soon.
This provides 4 points of Bullish confluence within the momentum in favour of further bullish movements
XAUUSD is currently sitting on the pivot level of $3350 (Resistance turned support) after a retracement prior for the NY opening bell which gives rise for a long opportunity from this level towards the next Pivot point at $3391.
On the hour timeframe, price is trading above the 50 and 200 SMA and is currently sitting upon the 21 SMA which XAUUSD has used push point from in the past trending markets. RSI is currently sitting in a sweet spot region of the RSI between 45-55 indicating this is a valid retracement and price is looking to turn bullish again soon.
This provides 4 points of Bullish confluence within the momentum in favour of further bullish movements
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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.