XAUUSD flat-lines below $2,050, focus on geopolitical tensions

XAUUSD trades on a flat note during the early Asian session on Monday. The uptick of the yellow metal is supported by the softer US Producer Price Index (PPI) data and rising geopolitical tensions in the Middle East. XAUUSD price is trading around $2,045, losing 0.01% on the day.

From a technical perspective, the overnight bounce from the 50-day SMA and the subsequent move up as well as positive oscillators on the daily chart favour bullish traders. That said, it will still be prudent to wait for a sustained strength beyond the $2,040-2,042 supply zone before positioning for additional gains. XAUUSD price might then accelerate the momentum towards last Friday's swing high, around the $2,064 area, en route to the $2,077 area. Some follow-through buying will negate any near-term negative outlook and set the stage for a move towards reclaiming the $2,100 round figure.


🌐 XAUUSD PLAN January 15

🔴 SELL Price range 2063$ - 2065$. Stoploss: 2069$
🟢 BUY Price range 2031$ - 2033$. Stoploss: 1927$

Note: Full TP and SL to be safe and win the market‼️