Gold Breaks Historical Record, Awaiting the Next Move
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Gold prices surged past the $2,700/oz mark on October 18, driven by escalating tensions in the Middle East, uncertainty surrounding the U.S. presidential election, and expectations of monetary easing, pushing the precious metal into uncharted territory.
On October 19, XAUUSD continues its climb, reaching $2,721.900, approaching the key resistance level at $2,734.879.
It's as if the market is pushing a 'golden ball' up a steep hill, but hold on! There’s a chance this 'ball' might roll back to the support zone at $2,714.109 for a breather, before shooting even higher to the $2,757.809 level.
The two mighty guards, the EMA 34 and EMA 89, are holding firm, keeping the bullish trend intact. But be careful—this isn’t an easy game. Traders need to closely watch the market signals to avoid being 'trapped' by any sudden corrections before making a trade decision.
On October 19, XAUUSD continues its climb, reaching $2,721.900, approaching the key resistance level at $2,734.879.
It's as if the market is pushing a 'golden ball' up a steep hill, but hold on! There’s a chance this 'ball' might roll back to the support zone at $2,714.109 for a breather, before shooting even higher to the $2,757.809 level.
The two mighty guards, the EMA 34 and EMA 89, are holding firm, keeping the bullish trend intact. But be careful—this isn’t an easy game. Traders need to closely watch the market signals to avoid being 'trapped' by any sudden corrections before making a trade decision.
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