GOLD - HAS A BULLISH TREND
Updated
Gold prices gained on Thursday, fueled by strong expectations of a Federal Reserve rate cut in September with investors focusing
Generally, the trend is up.
Uptrend Side: As long as the price remains above 2500, particularly above the 2514 level, further upward movement toward the 2527 level is anticipated, which marks our previous high with the potential to reach a new high of 2540.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,500, which should be validated by the close of a 4-hour candle. As an initial step towards this bearish trend, the price should further decline to close below the $2,475 level by the closing 1D candle. This would reinforce the downward momentum and indicate a deeper correction is likely.
Tendency Keys: 2527
Overall, today the price of gold is currently in its highest level and is likely to make a correction toward down
Generally, the trend is up.
Uptrend Side: As long as the price remains above 2500, particularly above the 2514 level, further upward movement toward the 2527 level is anticipated, which marks our previous high with the potential to reach a new high of 2540.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,500, which should be validated by the close of a 4-hour candle. As an initial step towards this bearish trend, the price should further decline to close below the $2,475 level by the closing 1D candle. This would reinforce the downward momentum and indicate a deeper correction is likely.
Tendency Keys: 2527
Overall, today the price of gold is currently in its highest level and is likely to make a correction toward down
Trade active
Gold softened on Friday as the dollar and Treasury yields firmed after U.S. inflation data matched expectations, but the bullion is set for a monthly gain as a September interest rate cut by the Federal Reserve remains in play.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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