XAUUSD: Wait for the right buy opportunity
Bar D1 yesterday increased sharply, in line with experts' comments that the gold price will continue to increase strongly by at least 188x - 1900. Largely due to expectations that the Fed will not raise interest rates in 2023 and has a roadmap to cut interest rates in 2024. Currently, 1877 is the MA20 resistance of D1, so there may be more or less a profit-taking price reaction from investors, so the price may decrease slightly.
. A closer look at H1 shows that yesterday the price surpassed 1865 but has not yet returned to the back test. This morning's Asian session continued to create a new ATH level compared to yesterday. Easily observe an uptrend channel at H1 with a good buying zone of 186x, everyone should pay attention
. A closer look at H1 shows that yesterday the price surpassed 1865 but has not yet returned to the back test. This morning's Asian session continued to create a new ATH level compared to yesterday. Easily observe an uptrend channel at H1 with a good buying zone of 186x, everyone should pay attention
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Despite benefiting from developments in the Middle East, analysts also note that gold remains sensitive to rising bond yields. The WGC said this tug-of-war could create some volatility in the gold market in the fourth quarter and any decline should be seen as a buying opportunity.
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