XAUUSD by Jeremy_NPC — TradingView

Loose FED (dovish): Comments from Fed governors (Waller, Williams) and information that Kevin Hassett may take over as Fed chairman (supporting interest rate cuts) are significant, increasing expectations for interest rate cuts, thereby weakening the US dollar (USD).

Geopolitics/Economy: Black Sea conflict news and weak Chinese production data (PMI fell) reinforced gold’s role as a safe haven, pushing… gold prices to their highest level in six weeks.

📈 Technical Analysis (TA): Uptrend structure maintained
The 2H chart shows that gold is in a clear upward trend (more BOS). The ideal strategy is to wait for price to correct into important demand areas:

Action: Login (Purchase)

Price Zone: $4,185 – $4,192 (Blowout/Demand Zone established. Awaiting confirmation here.)

Stop Loss (SL): Below $4,160.9 (The point at which the trailing structure will be canceled if price breaks out.)

Target 1 (price target): $4,244.8 (Nearest resistance.)

Target 2 (price target): $4,270.1 – $4,276.1 (Main target on the upside.)

Strategy: Wait patiently for a correction in the $4,185 to $4,192 area and go long based on the trend.

⚠️Important Economic Calendar:

This week, we will pay attention to the American Management Association PMI production data and other economic reports to evaluate the driving factors of the US dollar.

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