Bullish recovery - target XAU 2652
تم تحديثه
XAU / USD trend forecast December 27, 2024
The US Dollar Index (DXY), a benchmark that gauges the USD's performance against six key currencies, hovers above the 108.00 mark, just shy of its highest point since November 2022. The sustained strength of the Greenback underscores its dominance in global markets, driven by robust economic indicators and the Federal Reserve's hawkish stance.
However, this upward momentum in the Dollar poses a significant challenge for dollar-denominated assets such as Gold. A stronger USD not only amplifies the cost of these commodities for investors using alternative currencies but also reduces their appeal as a safe-haven choice. This dynamic creates a headwind for Gold, limiting its potential for price appreciation in the face of a surging Dollar. Traders now await fresh economic cues to determine whether the USD's rally will maintain its momentum or gradually ease, potentially providing some relief for the precious metal.
H2 long term frame recovery is continuing, may return to strong resistance zone 2652 soon
/// SELL XAU : zone 2652-2655
SL: 2660
TP: 50 - 150 - 300pips (2625)
Safe and profitable trading
The US Dollar Index (DXY), a benchmark that gauges the USD's performance against six key currencies, hovers above the 108.00 mark, just shy of its highest point since November 2022. The sustained strength of the Greenback underscores its dominance in global markets, driven by robust economic indicators and the Federal Reserve's hawkish stance.
However, this upward momentum in the Dollar poses a significant challenge for dollar-denominated assets such as Gold. A stronger USD not only amplifies the cost of these commodities for investors using alternative currencies but also reduces their appeal as a safe-haven choice. This dynamic creates a headwind for Gold, limiting its potential for price appreciation in the face of a surging Dollar. Traders now await fresh economic cues to determine whether the USD's rally will maintain its momentum or gradually ease, potentially providing some relief for the precious metal.
H2 long term frame recovery is continuing, may return to strong resistance zone 2652 soon
/// SELL XAU : zone 2652-2655
SL: 2660
TP: 50 - 150 - 300pips (2625)
Safe and profitable trading
تم فتح الصفقة
Gold price dropped below the 2620 zone - still a sideway accumulation zone
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