(GOLD) XAU/USD Analysis H1

XAUUSD Technical & Fundamental Analysis

Technical Overview:
The XAUUSD pair is currently showing a promising upward trend, as observed on the 1-hour chart. The price has recently bounced off the support zone around 2,652 and is now trading above the green moving average line. A bullish flag pattern appears to be forming, indicating potential for further upside movement. Key levels to watch include an initial target (Tp1) at 2,680 and a secondary target (Tp2) at 2,691. For entry points, consider entering within the marked "Entry Area" between 2,656 and 2,665.
Fundamental Analysis:
Gold prices remain influenced by ongoing economic factors including inflation data and Federal Reserve interest rate decisions. Recent market sentiment favors safe-haven assets amidst global uncertainties which supports upward momentum in gold prices.
Trading Strategy:

📈 Buy Entry: Within the range of 2,652 - 2,665.

🎯 Take Profit: Tp1 at 2680; Tp2 at 2691.

🛑 Stop Loss: Below key support level at ~2630.


Monitor economic indicators closely as they could trigger significant volatility impacting these levels.
NOTE :This analysis is for informational purposes only and does not constitute financial advice.

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