XAUUSD Analysis and Trend


Previous Day Recap:

XAUUSD followed the projected trajectory from our analysis, reaching both Target 1 and Target 2 as forecasted. The decision by the European Central Bank (ECB) to reduce interest rates by 25 BPS, coupled with adverse US jobless data, bolstered gold prices, driving the upward momentum. PREVIOUS DAY ANALYSIS

Trading Strategy (5th June 2024):

Buy Level: Anticipated above 2368

Targets: 2375, 2383, 2397

Stop Loss: 2362

Done the T1 & T2

Target 1 hit yesterday & Target 2 hit Today (6 June 2024)


Today's Trend:

XAUUSD continues its upward trajectory, currently hovering around the pivot at 2377. The bullish sentiment persists, with expectations of further extension of the uptrend. Should XAUUSD maintain levels above 2377, targets of 2392, 2403, and 2419 are anticipated. However, caution is advised due to significant data releases today, including Average Hourly Earnings (MoM), Nonfarm Payrolls (May), Private Nonfarm Payrolls (May), and Unemployment Rate (May), which could potentially alter the market trend.

Buy Level: Anticipated above 2373

Targets: 2383, 2392, 2405

Stop Loss: 2363







Pivot Levels:

 Pivot: 2369

 R1: 2385

 R2: 2394

 R3: 2410

 S1: 2360

 S2: 2344

 S3: 2335


Stay vigilant and adjust trading strategies based on the impact of incoming data releases.


Note: All levels and projections are subject to market fluctuations and should be interpreted with caution.