D1 Frame
It is not surprising that the price has increased again. If this momentum continues, the 3408 level can be reached today.
H1 Frame
The uptrend is clear, heading towards the area above 3400.
3363 is a good support zone, suitable for BUY orders in the Asia - Europe session.
3344 is an important level. If broken, the short-term uptrend will be broken and we need to wait for a new wave.
Resistance to watch
3382 is the nearest resistance zone in today's session.
3397 is an area prone to false breaks (old peaks). The price may react slightly here before reaching the 3408 level.
It is not surprising that the price has increased again. If this momentum continues, the 3408 level can be reached today.
H1 Frame
The uptrend is clear, heading towards the area above 3400.
3363 is a good support zone, suitable for BUY orders in the Asia - Europe session.
3344 is an important level. If broken, the short-term uptrend will be broken and we need to wait for a new wave.
Resistance to watch
3382 is the nearest resistance zone in today's session.
3397 is an area prone to false breaks (old peaks). The price may react slightly here before reaching the 3408 level.
Trade active
Gold price remains depressed amid modest USD strength; bullish potential seems intactGold price attracts fresh sellers in the vicinity of the $3,385 region, or a multi-week high touched on Tuesday and erodes a part of the previous day's modest gains. The downtick is sponsored by a slight US Dollar recovery, which tends to undermine demand for the commodity. However, a combination of factors might continue to act as a tailwind for Gold.
Trade closed: target reached
Gold declines sharply from multi-week highs, trades below $3,400Gold made a sharp U-turn in the American session and broke below $3,400 after setting a new multi-week high above this level earlier in the day. News of a phone conversation between US Pres. Trump and Chinese Pres. Xi seems to be making it difficult for XAU/USD to preserve its bullish momentum.
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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.