Daily Price Outlook

    The gold price began today's trading on a notably positive note, breaking free from the recent intraday bearish constraints. It is now on course to achieve anticipated gains in the forthcoming sessions. Key milestones include surpassing the $1,929 mark, which would signify a trajectory towards $1,945.20 as the next primary target.

    Thus, a bullish outlook is forecasted for today, bolstered by optimistic stochastic indicators. It's crucial to note that maintaining above the $1,929 level is pivotal for this bullish wave. Failure to do so could counteract this positive trend and result in a price pullback.

    Today's anticipated trading range lies between a support of $1,915 and a resistance of $1,945.

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

    GOLD (XAU/USD) - Trade Idea

    Entry Price – Buy Above 1930

    Take Profit – 1938

    Stop Loss – 1922

    Risk to Reward – 1: 1

    Profit & Loss Per Standard Lot = +$800/ -$800

    Profit & Loss Per Micro Lot = +$80/ -$80



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