Gold increased sharply as the war escalated
- Spot gold fell early in Monday's trading session, testing $1,908 before recovering along with the rest of the market.
- Investor sentiment in general has returned to a risk-tolerant state after last week's decline.
- XAU/USD has been moving sideways before entering an active trading session on Tuesday.
Spot gold prices fell early this week from their opening levels, dropping from $1,933 on Monday to $1,908 in Monday trading before XAU/USD joined the broader market on improved investor sentiment.
Investors' risk appetite took a hit last week following the escalation of the conflict between Israel and Hamas over the weekend. Geopolitical concerns weighed on market sentiment last week, but investors appear to have simply ignored the conflict and seen higher prices.
Gold prices are hovering at the midpoint of the daily candlestick, with XAU/USD being rejected by the 200-day simple moving average (SMA) near $1,930. The 50-day SMA marks the price floor and provides technical support through the key $1,900 level, and the price movement is captured between the two moving averages.
With XAU/USD's bullish reversal from its early October lows to $1,810, spot gold remains stuck in normal territory after initially falling into this region from around $1,980 in July. ing.
- Investor sentiment in general has returned to a risk-tolerant state after last week's decline.
- XAU/USD has been moving sideways before entering an active trading session on Tuesday.
Spot gold prices fell early this week from their opening levels, dropping from $1,933 on Monday to $1,908 in Monday trading before XAU/USD joined the broader market on improved investor sentiment.
Investors' risk appetite took a hit last week following the escalation of the conflict between Israel and Hamas over the weekend. Geopolitical concerns weighed on market sentiment last week, but investors appear to have simply ignored the conflict and seen higher prices.
Gold prices are hovering at the midpoint of the daily candlestick, with XAU/USD being rejected by the 200-day simple moving average (SMA) near $1,930. The 50-day SMA marks the price floor and provides technical support through the key $1,900 level, and the price movement is captured between the two moving averages.
With XAU/USD's bullish reversal from its early October lows to $1,810, spot gold remains stuck in normal territory after initially falling into this region from around $1,980 in July. ing.
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Hit Entry 1922
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Hit Entry Buy 1920 + 170 Pips ✅✅✅
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SELL XAUUSD 1938 - 1940
SL 1945
TP1 1930 ✅✅✅
TP2 1925✅✅✅
SL 1945
TP1 1930 ✅✅✅
TP2 1925✅✅✅
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+40 Pips ✅✅✅
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✔️TP1: 1914
✔️TP2: 1909
❌SL: 1927