Daily Price Outlook

    The gold price is currently teetering just below the critical mark of $1929.00, but it's not sitting still! Amid timid yet intriguing positive trading, the precious metal managed to stage a bounce back. However, all eyes are on the Stochastic indicator, which seems to have lost its positive momentum, eagerly waiting for the price to unveil its next move. Will it resume its downward journey, targeting the intriguing level of $1913.15?

    The stakes are high as the downward trend awaits continuation, with all eyes on the intriguing Double Top pattern that has been completed. To maintain this exciting bearish momentum, the price must strive to remain below $1945.20.

    Today's trading is sure to keep traders on their toes, with an expected trading range of $1915.00 to $1945.00. The suspense builds as we eagerly watch the thrilling price action unfold!

    GOLD Price Chart – Source: Tradingview
    GOLD Price Chart – Source: Tradingview

    GOLD(XAU/USD) - Trade Idea

    Entry Price – Sell Below 1936

    Take Profit – 1925

    Stop Loss – 1945

    Risk to Reward – 1: 1.5

    Profit & Loss Per Standard Lot = +$1100/ -$900

    Profit & Loss Per Micro Lot = +$110/ -$90



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