XAUUSD ANALYSIS AND UPCOMING POSSIBILITY OF TRADING IN GOLD

🚨 XAUUSD (Spot Gold) 🔖 21-5-2024🚨

Buy at: $2402-$2378-$2355-$2332
Sell at: $2438-$2458-$2480-$2500

CMP @ 2421.55💹

⚠️ Warning: Do not risk more than 5% of your capital. You might lose your money.

📊💹Fundamentals that might impact XAUUSD: Date: 21 May 2024 📌🔴

1.Gold price rises: The price of gold (XAU/USD) continue to rebound after Fed chair Powell speech on Sunday and Recent geo Political issue, Iran President Death , Saudi King Health issue, China Gold Buying News, Economic clashes , Import and Export Data from Russia and China, World Economics statistics.
2.Trader caution: The upward movement might not be limited as traders wait on the sidelines ahead of key US inflation data and Fed Members Speech Lined this week which will be affecting gold and other scripts.
3.Current stability: Gold price is standing in range$2410-$2430, driven by ongoing geopolitical risks and US Inflation data that increase demand for the safe-haven asset. Fed Rate cute projections and awaited data.
4.Interest rate impact: Gains may be capped due to US data indicating that interest rates will likely remain same for some time, reducing the appeal of the non-yielding precious metal.
5.Short-term uptrend: XAU/USD tests resistance range 2&3 and remains in a uptrend, suggesting potential for further recovery. For sell levels are mentioned above.

🚨📝Data scheduled to be published at 18:00 -22:30 hrs🔖📊

18:30 Fed Waller Speaks
18:35 FOMC Member Williams Speaks
18:40 FOMC Member Bostic Speaks
21:15 Fed Vice Chair for Supervision Barr Speaks
22:30 BoE Gov Bailey Speaks

🔴Technical Status: XAUUSD: 📌

D1 SMA100-P (2205.90) Buy 🔺
H4 SMA100-P (2342.12) Buy 🔺
H1 SMA100-P (2399.88) Buy🔺
H4 SMA200-P(2325.16) Buy🔺

RSI(14): Status: Buy
STOCHRSI(14): Status: Neutral
ROC: Status: Buy
William%R: Status: Buy
ATR(14): Status: High Volatility
SOC: Status: sell

⚠️Ongoing Geo-political Tensions: ‼️

Israel – Iran- Escalating
Russia - Ukraine
US-China Relations
Middle East Instability – Escalating
Taiwan-China Relations- Escalating