Gold prices remained relatively unchanged on Thursday, but were still recovering from four consecutive days of decline. The market was cautious due to the uncertainty surrounding the Federal Reserve's upcoming decision on interest rates, which affected traders' confidence in the precious metal.
Yesterday, bullion prices briefly dropped to their lowest point in three months, breaking a period of stability. This occurred after Jerome Powell, the Chair of the Federal Reserve, testified before the House Financial Services Committee of Congress, suggesting that interest rates may need to be increased in order to control inflation.
Gold price on June 22, 2023 fluctuated at $ 1932, narrow band sideways continuation $1915 - $1957
Consider entering orders today:
SELL zone: $1947 - $1950, sl $1960
Based on technical analysis indicators EMA 34, EMA 89 combines with a strong resistance at $1950 area
Yesterday, bullion prices briefly dropped to their lowest point in three months, breaking a period of stability. This occurred after Jerome Powell, the Chair of the Federal Reserve, testified before the House Financial Services Committee of Congress, suggesting that interest rates may need to be increased in order to control inflation.
Gold price on June 22, 2023 fluctuated at $ 1932, narrow band sideways continuation $1915 - $1957
Consider entering orders today:
SELL zone: $1947 - $1950, sl $1960
Based on technical analysis indicators EMA 34, EMA 89 combines with a strong resistance at $1950 area
Trade active
The price is still continuing the sideway zone $1930 -$1933Trade active
There will be unemployment news with news from the Fed in the evening, please pay attention to install SL carefullyTrade active
exactly trendTrade closed: target reached
in a downtrend
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.