Potential gold trades from support
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Dear friends, Gold prices continue to recover amid escalating tensions in the Middle East, reaching a two-month high of $1,962.62 per troy ounce. XAU/USD maintains its upward momentum, trading around $1,949 in the US session as the US dollar attracts attention following the stock market plunge.
In the short term, the 4-hour chart indicates a potential downward correction, although it also shows that the upward trend is still dominant for XAU/USD.
Support levels: $1,938.20, $1,926.50, $1,912.35
Resistance levels: $1,962.60, $1,978.90, $1,987.40
In the short term, the 4-hour chart indicates a potential downward correction, although it also shows that the upward trend is still dominant for XAU/USD.
Support levels: $1,938.20, $1,926.50, $1,912.35
Resistance levels: $1,962.60, $1,978.90, $1,987.40
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Follow the United States's unemployment statement and the Philly Fed index as well as the current home sales at the end of Thursday. In addition, Fed Powell is expected to speak. Market participants will get signals from data and find opportunities to trade around the gold price.Nota
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