Daily Price Outlook

    The gold price has effectively reached our anticipated target at $1,945.20 and is presently positioned around this level. It is making efforts to establish a supportive foundation above this mark, with the aim of utilizing it as a pivot for further upward movement in the short-term and intraday perspectives. It is noteworthy that our subsequent positive milestones initiate at $1,960.00, extending onwards to $1,977.25.

    Consequently, our outlook remains inclined towards a bullish trajectory in the near future, influenced by the completion of the earlier observed double bottom pattern. It's important to acknowledge that any failure to surpass the $1,945.20 threshold could interrupt the bullish momentum, potentially leading to a downward correction towards $1,929.00 as the initial target, prior to any potential renewed attempt at an upward surge.

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

    GOLD (XAU/USD) - Trade Idea

    Entry Price – Buy Stop 1951

    Take Profit – 1970

    Stop Loss – 1935

    Risk to Reward – 1: 1.19

    Profit & Loss Per Standard Lot = +$1900/ -$1600

    Profit & Loss Per Micro Lot = +$190/ -$160



    24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.