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XAUUSD: The gold market will be affected by Middle East politics

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World gold prices increased slightly as geopolitical tensions risked prolonging and the market raised the valuation of the Fed to cut interest rates.

World gold prices continue to increase thanks to escalating geopolitical tensions in the Middle East and the risk of prolongation. With the conflict in Ukraine and the US economy showing signs of decline through the recent PPI index, the safe-haven appeal of gold continues to be exploited. Gold is currently approaching a sizable resistance level at $2,050 and this level could limit gold's upward momentum for the time being. Currently, gold is moving around $2,052.

Coming up this week, the market will receive many important news, including the Fed's Beige Book, US retail sales and some speeches by Fed officials.

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🔝 XAUUSD : Trading plan January 16, 2024

🪙 We have 2 levels to have a good entry for the BUY signal :

💲 Entry 1 Buy Scalping : 2049$ - 2051$
💵TP1 : 2055
💵TP2 : 2060
🔴 SL : 2045

💲Entry 2 Buy Limit :
💵TP1 :
💵TP2 :
🔴 SL :

🪙 We have 2 levels to have a good entry for the SELL signal :

💲Entry 1 Sell (Scalping) : 2061$ - 2063$
💵TP1 : 2055
💵TP2 : 2050
🔴 SL : 2067

💲Entry 2 Sell Limit :
💵TP1 :
💵TP2 :
🔴 SL :

⚡️⚡️⚡️ Note: For transactions, please leave full TP and SL to ensure safety and bring profit from the market. ‼️

🔔 Admin : @Eva_trade811