$BTC #CPIWatch $XAUUSD Current Price and Trend

The current price of gold is around $4,208.93, with a bullish trend indicated by several analysts. The price is consolidating within a range, and a breakout is expected soon. ¹

Support and Resistance Levels

*Support Levels:*

- $4,170-$4,175: A strong support zone that could trigger a rebound

- $4,160-$4,165: A critical defense line for the short-term trend

- $4,200: A psychological level that could influence price movement

*Resistance Levels:*

- $4,221: A key resistance level that could trigger a breakout

- $4,230: A significant resistance level that could lead to further upside

- $4,240-$4,242: A potential target zone for long positions

Trading Strategy

*Buy:*

- Entry: $4,190-$4,187 or $4,170-$4,175 with clear reversal signals

- Stop Loss: Below $4,189 or $4,163

- Targets: $4,217, $4,221, $4,230, and $4,242

*Sell:*

- Entry: $4,218-$4,221 or $4,205-$4,208

- Stop Loss: Above $4,224 or $4,212

- Targets: $4,200, $4,195, $4,180, and $4,170

Key Takeaways

- Gold is expected to remain range-bound with a bullish bias.

- A breakout above $4,221 could trigger a significant upside move.

- A drop below $4,189 could lead to a decline towards $4,160-$4,165.

Keep in mind that market volatility and unexpected events can impact gold prices. It's essential to stay updated and adjust your strategy accordingly. ² ³