• Mar 18, 2024
  • Trade ideas

Will Gold's Upward Trend Persist Amid Rising Bond Yields?

XAUUSD - H4 Timeframe

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XAUUSD is consolidating within a symmetrical triangle, nearing the 2170 resistance and the pattern's upper limit. A break above could elevate the price to 2190. Yet, rising US bond yields have added pressure on precious metals, with 10-year treasury yields climbing back to around 4.3% from 4.2% earlier in the week, implying that a drop below the 2160 support could trigger a descent to 2130.

Signal 1:

Trade: Buy stop XAUUSD on a breakout of 2170.

TP: 2190

Signal 2:

Trade: Sell stop XAUUSD on a breakout of 2160.

TP: 2130

Conclusion

In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.

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