GOLD - Parallel Channel Trading Discounts
Updated
Following the release of discouraging CPI news for the USD, GOLD experienced a significant increase, reaching approximately 1930USD. However, this surge was short-lived as the market quickly absorbed the news and GOLD returned to its previous trading level around 1920USD.
Gold has long been considered a safe haven in times of economic uncertainty, making it an attractive choice for investors during periods of negative economic impact.
Currently, GOLD is still following a parallel downtrend. Therefore, it is prudent to continue monitoring the trend and wait until GOLD reaches the lower trend line along with resistance at $1910 before considering implementing a BUY GOLD strategy.
The target price for this strategy would be set at 1925USD (250PIPs).
Gold has long been considered a safe haven in times of economic uncertainty, making it an attractive choice for investors during periods of negative economic impact.
Currently, GOLD is still following a parallel downtrend. Therefore, it is prudent to continue monitoring the trend and wait until GOLD reaches the lower trend line along with resistance at $1910 before considering implementing a BUY GOLD strategy.
The target price for this strategy would be set at 1925USD (250PIPs).
Note
GOLD +50PIPs
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