Gold prices weigh direction as dollar and Treasuries stay higher
Updated
The gold price appears poised at a crossroads going into the weekend with the US Dollar firming as Treasury yields tick higher. An eventful week for markets may still have more to play out with non-farm payrolls data due out later today.
The Fitch downgrade of US sovereign debt credit rating to AA+ from AAA got the ball rolling on Tuesday with a risk-off rout permeating through markets.
The Fitch downgrade of US sovereign debt credit rating to AA+ from AAA got the ball rolling on Tuesday with a risk-off rout permeating through markets.
Note
🐾 SELL XAUUSD zone 1952 - 1954⚠️ Stop Loss : 1960
💲 Take Profit 1: 1946
💲 Take Profit 2: 1940
💲 Take Profit 3: 1930
🐾 BUY XAUUSD zone 1915 - 1917
⚠️ Stop Loss : 1910
💲 Take Profit 1: 1925
💲 Take Profit 2: 1930
💲 Take Profit 3: 1935
Note
Friday's surprise payroll data miss showed 187,000 jobs created versus 200,000 expected, which helped Gold find its footing and recover from its recent slump. Will a single miss be enough to stave off the Fed's aggressive stance on rate hikes?Note
🐾 BUY XAUUSD zone 1936 - 1938⚠️ Stop Loss : 1932
💲 Take Profit 1: 1942
💲 Take Profit 2: 1947
💲 Take Profit 3: 1952
Note
⭐️Plan to BUY Successfully Runnings + 30pips 💲💲💲Trade active
Close 1/2 + 40pips 💲💲💲 1/2 Move SL to Entry ⭐️Note
The IGCS gauge shows that about 76% of retail traders are net-long gold. Since the vast majority are biased to the upside, this continues to suggest that prices may keep falling down the road.
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