Hello dear friends, today gold continues to hold its ground at a high level despite some slight adjustments, but overall the price increase shows no signs of cooling down.
Currently, the price of gold is trading around $2250, down 150 pips from yesterday as precious metals undergo a correction after a strong surge.
Looking ahead, gold continues to be supported by the safe-haven demand due to the early rate cuts by the Fed. The ongoing war is causing economic downturn in some countries, leading investors to flock to gold. However, in the short term, the price is forming a new peak at high levels and a downward trendline is emerging. Following the principle, gold is expected to retrace back to the EMA 89 after breaking the support level at $2235.
Today, let's continue to look for selling opportunities. Wishing everyone happy trading and profitable outcomes!
Trading plan for April 2nd:
👨💻 XAUUSD BUY zone 2231 - 2229 🔹SL 2225 🔹TP 2240 - 2250 - 2260
Wishing you all full TP 💵💵💵
Currently, the price of gold is trading around $2250, down 150 pips from yesterday as precious metals undergo a correction after a strong surge.
Looking ahead, gold continues to be supported by the safe-haven demand due to the early rate cuts by the Fed. The ongoing war is causing economic downturn in some countries, leading investors to flock to gold. However, in the short term, the price is forming a new peak at high levels and a downward trendline is emerging. Following the principle, gold is expected to retrace back to the EMA 89 after breaking the support level at $2235.
Today, let's continue to look for selling opportunities. Wishing everyone happy trading and profitable outcomes!
Trading plan for April 2nd:
👨💻 XAUUSD BUY zone 2231 - 2229 🔹SL 2225 🔹TP 2240 - 2250 - 2260
Wishing you all full TP 💵💵💵
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