Daily Price Outlook
- Gold prices remained resilient above the pivotal $1913.15 mark after last Friday's attempt to breach it.
- Positive indicators from the stochastic and EMA50 support an upward trajectory, with targets set between $1929.00 and $1945.20.
- Today's forecasted trading range is anchored between the $1900.00 support and the $1935.00 resistance.
Gold prices made an effort to surpass the $1913.15 mark, yet concluded last Friday's session above this threshold. This sustains our optimistic forecast, bolstered by the positive trajectory indicated by the stochastic, as well as the upward pressure provided by the EMA50. Our projected price milestones commence at $1929.00, extending up to $1945.20.
Conversely, it's pivotal to highlight that a dip below the $1913.15 mark could disrupt this bullish outlook, steering the price towards a renewed downtrend.
For today, the anticipated price fluctuation is predicted to oscillate between a support of $1900.00 and a resistance of $1935.00.
GOLD (XAU/USD) - Trade Idea
Entry Price – Buy Above 1914
Take Profit – 1930
Stop Loss – 1905
Risk to Reward – 1: 1.7
Profit & Loss Per Standard Lot = +$1600/ -$900
Profit & Loss Per Micro Lot = +$160/ -$90
Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.
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