XAU increased after the Fed chairman spoke
Updated
The spot price of gold (XAU/USD) soared last night to more than 2,328 USD/ounce after Fed Chairman Jerome Powell spoke. Mr. Powell affirmed that cutting interest rates now is inappropriate until inflation shows clear signs of returning to the 2% target. He also added that this year's inflation data is "not convincing enough" to change the Fed's stance.
The DXY index fell back to trading around 105.7 after rising above 106.0 early yesterday. This has invisibly created conditions for many major currency pairs to recover quite well
The DXY index fell back to trading around 105.7 after rising above 106.0 early yesterday. This has invisibly created conditions for many major currency pairs to recover quite well
Note
SELL XAU 2320 TP1: 2315
TP2: 2310
SL: 2326
Note
running + 50 pipsNote
hit tp 2 + 100 pipsNote
close + 150 pipsNote
buy 2300TP1: 2310
SL: 2294
Note
HIT TP1 + 100 PIPS
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