XAUUSD Analysis
Gold Corrects but Remains in an Uptrend
Gold prices corrected by more than 1% on Friday due to profit-taking, although the metal remains in a strengthening trend for the seventh consecutive week. The market remains concerned about a potential global trade war, especially after former U.S. President Donald Trump prepared a reciprocal tariff plan.
Correction to Support Area
Gold has corrected to a support area visible on the H1 timeframe. A buy signal confirmation can be sought in this support zone.
Prediction: STRONG XAUUSD
Trade Plan:
- BUY AREA: 2885.65 - 2875.09
- Stop Loss (SL): 2859.12
- Take Profit (TP) Targets:
- TP1: 2899.94
- TP2: 2920.47
- TP3: 2942.38
Always apply proper risk management and stay alert for potential market volatility.
Happy Trading! 🚀