XAU/USD: Gold's Bullish Run Continues – Looking for a Dip to Ride Higher!

XAU/USD Outlook: Riding the Bullish Wave

Hey KoraFX fam! William here, checking in on Gold. XAU/USD is looking pretty interesting right now. The overall trend is clearly bullish, and we've seen it push higher, currently sitting around 2936.15, up 0.55% today. We hit a daily high of 2960.37, but it's pulled back a little, which is exactly what I like to see for a potential entry. This looks juicy if we get the right bounce!

My Intraday Trade Setup: Long Gold

Given the strong bullish momentum and the slight pullback, I'm eyeing a long position on XAU/USD. I'm looking for an entry around 2928. This level sits nicely above the 2911.93 support, which held strong earlier. Fundamentally, global uncertainties and persistent inflation chatter continue to make gold an attractive safe haven, providing a nice tailwind for this bullish trend. My stop loss is set quite tight at 2889, just below the 2900 psychological level and key support. For profit, I'm aiming for 3006, pushing past the 3000 resistance. Easy money if you're patient! Let's go! Remember, always manage that risk, folks.