XAU/USD (gold versus the US dollar) The next trading setup

For XAU/USD (gold versus the US dollar), the current market sentiment and price predictions suggest the following trading plan:

1. Support and Resistance Levels:

   • Support: Around $2,619.00 - $2,612.60, based on recent hourly and four-hourly chart analyses.
   • Resistance: Key levels at $2,635.00 and $2,643.00, with a possible extension to $2,650.00.

2. Target Prices (TP) and Stop Losses (SL):

   • Bullish Setup: Buy positions above $2,635.00, targeting $2,643.00 and $2,650.00, with a stop loss around $2,628.50.
   • Bearish Setup: Sell positions below $2,628.50, targeting $2,619.00 and $2,612.60, with a stop loss near $2,635.00.

3. Key Drivers:

   • Macroeconomic data, especially U.S. indicators like GDP and inflation reports, could impact the price of gold in the short term.
   • Technical indicators show mixed sentiment, with potential for retracement but a generally bullish longer-term trend.

Caution: These predictions rely on current technical levels and market conditions, which can shift rapidly. Implement appropriate risk management strategies and stay updated with real-time developments. For more details on technical analysis, visit or .