There is potential for gold to continue its upward trend and push up 30 more pips from current pricing area before seeing a steep retracement back downwards. A move forward may be triggered by tomorrow's USD GDP announcement as well, which is expected to temporarily weaken the US dollar. Current MA Indicators are still showing strong signs of bullish movement.
I have based my analysis on the last time XAUUSD saw current price points in April 2022.
Buy Entry: 1948.00
Targets: 1951.00 | 1953.00 | 1955.00 | 1957.50 | 1963.50 | 1967.00 | 1970.00 | 1972.50 | 1974.50 | 1977.00
Resistance: 1980.00
Be sure to like this post and let me know what you think in the comments below!
I have based my analysis on the last time XAUUSD saw current price points in April 2022.
Buy Entry: 1948.00
Targets: 1951.00 | 1953.00 | 1955.00 | 1957.50 | 1963.50 | 1967.00 | 1970.00 | 1972.50 | 1974.50 | 1977.00
Resistance: 1980.00
Be sure to like this post and let me know what you think in the comments below!
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FOMC could trigger buy after US market close
