Indices and commodities
#GOLD
Short
Active
Gold Faces More Downside on Hormuz & Inflation Fears for OANDA:XAUUSD by OMAR_TP
TradingView
GOLD
Indices and commodities
Active
Current price
4548.70
USD
PNL
+0.12%
4548.70 USD
Stop Loss
3.27%
4702.92 USD
Take Profit
3.27%
4405.09 USD
Rationale
TradingView idea: Gold Faces More Downside on Hormuz & Inflation Fears for OANDA:XAUUSD by OMAR_TP
TradingView symbol: XAUUSD
Dear traders,
Amid sustained safe-haven demand for the US dollar and escalating tensions around the Strait of Hormuz, XAUUSD is increasingly setting up as a market where sellers may re-enter. At the moment, gold continues to consolidate its bearish momentum, trading around the $4,551 level.
The current macro backdrop remains unfavorable for XAUUSD. As such, my downside target is $4,405, with bearish continuation expected once price firmly breaks below the $4,500 level.
What about you—where …
Key details
- Ticker
- GOLD
- Asset class
- Indices and commodities
- Direction
- Short
- Status
- Active
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