Daily Price Outlook

                Gold prices show a slight negative movement, potentially testing the key support level at $1945.20. It is worth noting that the EMA50 intersects with this level, providing additional strength. The stochastic indicator indicates clear positive momentum.

                Therefore, there is a valid possibility for the expected bullish trend to resume on an intraday basis, with a target of $1977.25.

                This prediction is influenced by the presence of a double bottom pattern on the chart. However, if the price breaks below $1945.20, followed by $1935.10, the anticipated rise will be halted, and a decline may occur.

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

                Gold (XAU/USD) Trade Idea

                Entry Price – Buy Limit 1950

                Take Profit – 1970

                Stop Loss – 1940

                Risk to Reward – 1: 2

                Profit & Loss Per Standard Lot = +$2000/ -$1000

                Profit & Loss Per Micro Lot= +$200/ -$100



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