Gold Shows Indecision After 3 Up Days
XAU/USD - H4
North American traders seek the US Dollar, which puts pressure on XAU/USD, following the de-escalation in US Producer Price Index and Mr. Powell's focus on employment.
After three profitable days, it shows exhaustion and becomes vulnerable to Monday's lows (1,812), but the downside has multiple levels that can provide support. Most notably, the 200Day and 200H4 EMAs (in the broader 1,795-76 zone), which however, do not appear ready to be challenged.
Despite current struggle, XAU/USD remains in control and has the ability to extend its advance, even if a pullback may be required. As such, it can push again for the key 1,829-34 area, that will open the door towards 1,859.
At this stage, market sentiment is mixed and either side seems to lack conviction to determine the next leg, although fresh impetus may be found in Wednesday's US CPI Inflation data.
Past Performance: Past Performance is not an indicator of future results.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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