XAUUSD Analysis - Why Gold Will Hit $2,200 This Month
G
GridMaster88
1936
0
market-analysis
Technical + fundamental analysis pointing to strong bullish momentum:
Technical:
- Broke above 2,150 resistance with high volume
- RSI showing strength but not overbought
- MACD golden cross on daily
- Fibonacci 1.618 extension targets 2,205
Fundamental:
- Fed likely to pause rate hikes
- Geopolitical tensions increasing (safe haven demand)
- Dollar weakening against major currencies
- Central banks accumulating gold
My positions:
- Long from 2,145, SL at 2,120
- TP1: 2,180 (50% close)
- TP2: 2,205 (remaining 50%)
Risk/reward: 1:2.4
What's your take? Am I being too optimistic?