Gold Long

2023년 8월 7일

Take Profit 1 - 1942
Take Profit 2 - 1947
Take Profit 3 - 1952
Stop loss - 1924

The XAUUSD pair has been in a bullish trend for the past few weeks, and it is currently trading near the top of its range. The current spot rate is 1934, and a buy entry point of 1934 is just below the recent high of 1936.

There are a few reasons why XAUUSD could continue to rise in the near term. First, gold is generally seen as a safe haven asset, and it has been strengthening against the USD in recent weeks as concerns about the global economy have grown. Second, the US Federal Reserve is expected to raise interest rates more slowly than other central banks, which could put upward pressure on gold prices. Finally, the global economy is facing some headwinds, such as the war in Ukraine, which could lead to an increase in demand for gold as a safe haven asset.

Technical analysis:

From a technical perspective, the XAUUSD pair is trading above its 200-day moving average, which is a bullish signal. The pair is also forming a bullish ascending triangle pattern, which is a continuation pattern that typically leads to a breakout to the upside.

Fundamental analysis:

The global economy is facing some headwinds, such as the war in Ukraine, which could lead to an increase in demand for gold as a safe haven asset. However, the US Federal Reserve is expected to raise interest rates more slowly than other central banks, which could put upward pressure on gold prices.

Risks:

There are a few risks to consider before entering a trade on XAUUSD. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the XAUUSD pair. Second, the US Federal Reserve is expected to raise interest rates more slowly than other central banks, which could put downward pressure on gold prices. Finally, the global economy is facing some headwinds, such as the war in Ukraine and the ongoing trade tensions with China. These headwinds could weigh on the global economy and lead to a decline in gold prices.

Overall:

I think XAUUSD is a good pair to trade for those who are looking for a long-term bullish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before making any investment decisions.

Here are some additional factors that you may want to consider before entering a trade on XAUUSD:

The economic outlook for the global economy.
The level of volatility in the forex market.
The price of gold.