The markets witnessed strong movements today following the US consumption data, with the US Dollar gaining momentum amid expectations of rising inflation due to the new tariffs imposed on imports. This has created a bullish sentiment among traders, supported by strong demand zones on the US Dollar Index (DXY).
🔷 US Dollar Index (DXY) Technical Outlook
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Strong Resistance level identified @ 98.740
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and Support Level @ 98.00
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Current bullish momentum driven by:
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Expectations of higher inflation (due to new tariffs)
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Strong demand zones reinforcing upward movement
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🔷 Gold: Minor Pullback Before Resuming Uptrend
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Slight and temporary decline to 3,336 (normal correction within bullish trend)
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Key support at 3,320 – critical level to hold for continuation of upward movement
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Resistance at 3,358 – breakout could trigger next rally toward 3,480
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Overall trend remains bullish, with this dip representing a buying opportunity
🔷 Trading Opportunities Ahead
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DXY: Watch for reactions at 98.740 & 98.00 support for potential long entries
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Gold:
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Buy on dips near 3,320 (if held)
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Confirmation of uptrend resumes above 3,358 (target: 3,480)
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📊 Market Sentiment:
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Short-term dollar strength due to tariff-driven inflation expectations
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Gold’s pullback is corrective; primary trend remains upward
Motasm Adel
Financial Market Analyst – OneRoyal
📩 madel@oneroyal.com | 🌐 www.oneroyal.com
