XAU/USD recent analysis 📊 | ⚠️Read pinned comment⚠️ | #trading #forex #xauusd

XAUUSD TRADE IDEAS - 1H 📚 ➡️ On friday gold created new historical highs and closed with a weekly bullish candle at 2072s. The highest monthly as well as weekly close ever created. The driving factor for golds bullish price action is due to fed speakers hinting at rate cuts into early next year. Causing DXY weakness and Gold strength. ➡️ As we are at historical highs, taking buys at break outs of highs is risky as there are no targets. Therefore we will be waiting for pullbacks. These can be driven by POSITIVE US data next week. Such as very good PMI that will give DXY strength and Gold weakness in the short term. ➡️ Buy attempts can be made at retests of 2050 for intraday trades. With confirmations of sellers exhaustion at this zone, and a critical one, the DXY continuing bearish towards 101. ➡️ Beware of FED speakers and even more dovish comments, which can give gold even more strength. We have seen the impact this can have last week. ➡️ Geopolitical tensions in the Middle East are having less media attention therefore potentially less market impact on new informations. BUT, if there are clear announced further escalations, this can give gold strength. Beware of de-escalations with potential ceasefires that can lead to safe havens showing some weakness. ➡️ HIGH RISK SELL SCALPS at breaks of 2065. With DXY retesting into 103.7 at the start of the week. 🚨 Reserve a spot in our private channel by filling the form out in our bio. Launch date coming soon 💪🏼 ⚠️ These are my trade ideas and not financial advice.