XAUUSD Analysis
Dollar Index Hits 110
Gold's price rally has been capped as the Dollar Index surged to the 110 level for the first time since November 2023. The market is reacting to strong U.S. non-farm payroll data, with the focus now shifting to this week's U.S. inflation data.
Up Trendline Breaks
On the H1 time frame, the price has broken below the up trendline. A confirmed sell signal can be considered if a pullback occurs toward the trendline area.
Outlook: WEAK XAUUSD
Trade Plan
- Sell Area: 2674.85 - 2682.61
- Stop Loss (SL): 2699.72
- Take Profit (TP):
- TP1: 2659.38
- TP2: 2636.90
- TP3: 2616.28
Stay disciplined and follow your risk management strategy for optimal trading results!