XAUUSD : Gold will continue to create new records for itself
Updated
Gold continues to rise after Chairman Powell's first testimony
Gold prices extended their upward momentum after Chairman Powell leaned toward the "dovish" side and reported a lower-than-expected JOLTS.
During the March 6 session, gold prices maintained their upward momentum, supported when Fed Chairman Powell leaned towards the "dovish" side in his first hearing. He believes that the Fed can completely cut interest rates this year and interest rates have peaked. The strongest increase occurred in the European session when gold rebounded from $2,125 and closed the session at $2,148. Precious metals were also supported by a weaker-than-expected JOLTS jobs report.
Today, the market will receive Chairman Powell's next testimony before the Senate, then on Friday will release the expected NFP data. Currently, gold is slightly down to $2,145.
It is expected that gold will continue to increase strongly to 2168 and then the 2188 area and if USD data continues to be too bad, there is a high possibility that gold will touch 2200, creating an all-time high.
Gold prices extended their upward momentum after Chairman Powell leaned toward the "dovish" side and reported a lower-than-expected JOLTS.
During the March 6 session, gold prices maintained their upward momentum, supported when Fed Chairman Powell leaned towards the "dovish" side in his first hearing. He believes that the Fed can completely cut interest rates this year and interest rates have peaked. The strongest increase occurred in the European session when gold rebounded from $2,125 and closed the session at $2,148. Precious metals were also supported by a weaker-than-expected JOLTS jobs report.
Today, the market will receive Chairman Powell's next testimony before the Senate, then on Friday will release the expected NFP data. Currently, gold is slightly down to $2,145.
It is expected that gold will continue to increase strongly to 2168 and then the 2188 area and if USD data continues to be too bad, there is a high possibility that gold will touch 2200, creating an all-time high.
Note
Buy 2147 - 2149 TP : 2155
TP2 : 2160
TP3 : 2168
SL 2140
Buy Limit 2143 - 2145
TP : 2150
TP2 : 2155
SL : 2138
Note
hit tp2 100 pipsNote
Round 2 Buy 2148 hit 150 pipsNote
Gold continues to rise after the US unemployment report stabilizedGold prices extended their upward momentum as the number of US unemployment benefit applications remained unchanged, continuing to be supported by Chairman Powell's statement in the previous hearing.
In the March 7 session, gold prices maintained their upward momentum after the number of US unemployment benefit applications remained the same as expected. Precious metals received strong support when Fed Chairman Powell said that loosening policy could be implemented this year. Gold increased from $2,140 to $2,161, then corrected slightly and ended the day at $2,156.
Today, the market will receive important economic data from the United States, including the unemployment rate and the expected NFP report. Currently, gold is trading around $2,158.
Note
Buy 2153 - 2155TP : 2160
TP2 : 2165
TP3 : 2170
SL 2145
Buy Limit 2147 - 2149
TP : 2155
TP2 : 2160
SL : 2140
Note
Running 30 pipsNote
Hit TP1 60 pipsTrade active
Hit 80 pipsNote
hit tp2 110 pipsNote
hit 140 pipsNote
Hit TP3 160 pipsNote
Hit 400 pips
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