3 July 2023 Market Analysis For XAUUSD

2023-07-03 12:51Source:BtcDana

XAUUSD TECHNICAL ANALYSIS SHORT TERM VIEW    

     XAUUSD  is running in positive trend and immediate good support area is1902 to 1908 level .Intraday purpose we can buy it with stop loss 1893 for upside direction towards1935 level . Major trend is upside it is going for 2100 levels without touch1850 levels so we can also make positional buying with 1850 stop loss for upside rally towards 2100.Final stop loss  will be 1815 and single target 2100 .

 QUICK FUNDAMENTAL LOOK                                                                     

Gold edges lower on stronger dollar, hawkish Fed rate-hike path ahead.Gold prices edged lower in early Asian trade on Monday, pushed down by a stronger U.S. dollar and as chances of more interest rate hikes by the Federal Reserve weighed on bullion's appeal.

 

👨🏻‍🏫POC = Risk is a part of trading, use caution when placing orders and take market advice only into account

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