XAUUSD Analysis
USD Corrects, Russia-Ukraine Tensions Escalate
Gold prices rose as the USD corrected and tensions between Russia and Ukraine intensified. This follows President Joe Biden's statement about the U.S. providing Ukraine with long-range missiles to penetrate deeper into Russian territory.
Correction to the Down Trendline Area
A pullback has occurred to the down trendline area visible on the H1 time frame. Selling opportunities can still be explored in this trendline area.
Forecast: WEAK XAUUSD
Trade Plan:
- SELL AREA: 2611.68 - 2633.15
- Stop Loss (SL): 2661.70
- Take Profit (TP):
- TP1: 2581.18
- TP2: 2543.04
- TP3: 2507.78