XAUUSD Analysis
Geopolitical Tensions Boost Safe-Haven Demand
Gold prices gained around 1% yesterday as Middle Eastern geopolitical tensions remain high. Russian President Vladimir Putin mentioned at the recent BRICS summit that the Middle East is currently on the brink of a full-scale war.
Still Moving Along the Up Trendline
On the H1 timeframe, gold continues to move along the uptrend line, offering buy opportunities around this trendline area.
Forecast: STRONG BULLISH on XAUUSD
Trade Plan
- Buy Zone: 2730.21 - 2718.30
- Stop Loss (SL): 2705.09
- Take Profit (TP) Targets:
- TP1: 2742.62
- TP2: 2760.29
- TP3: 2778.37
Use appropriate risk management and adjust your trade size accordingly.
Happy trading!