XAUUSD End of month: Strategy to end the month

XAUUSD Gold prices fell slightly on the first day of a new week and partially eroded Friday's positive move. The more hawkish outlook of major central banks puts downward pressure on XAU/USD. Hoping that the Fed will end its rate hike cycle soon could help limit further losses for the precious metal.

On the downside, bullish technicals will continue to favor Gold bulls, with immediate resistance seen at Friday's high of $1964, above which the 100 DMA The upside at $1968 will be challenged.

Gold buyers need to find a strong foothold in gold to resume the recent uptrend towards multi-month highs of $1988. Before that, Thursday's high of $1,982 will be a tough one to break through for them.

I sent a sell signal yesterday and am now taking profit 70pip. Today I will post a buy XAUUSD strategy around 1945$. Thank you to everyone who has supported Phenol in the past time

Сделка активна