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Home » » Still Looking for BUY on XAUUSD: Correction Occurs to the SUPPORT Area

Still Looking for BUY on XAUUSD: Correction Occurs to the SUPPORT Area

 


XAUUSD Analysis

Gold Corrects Amid USD Movement

Gold experienced a correction from its three-week high recorded last Friday. Meanwhile, the market continues to monitor the potential economic policy changes as Donald Trump prepares to take office as the President of the United States.

Correction to Support Area

The price has corrected to the support area visible on the H1 time frame. Confirmation of a buy signal can be sought within this support area.

Forecast: STRONG XAUUSD

Trade Plan:

  • Buy Area: 2638.53 - 2630.92
  • Stop Loss (SL): 2618.64
  • Take Profit (TP):
    • TP1: 2651.30
    • TP2: 2665.46
    • TP3: 2679.97

Stay disciplined with your trading plan and always apply proper risk management.

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