GOLD IS GIVING YOU ANOTHER CHANCE TO SURVIVE WILL YOU TAKE IT?
Gold and silver made a volatile upward move as the dollar dips after dovish comments from fed chairman powell,Powell told the Economic Club of New York Wednesday that “interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy.”The dollar index falls by around 0.5% where Gold and Silver prices bounced back up in a volatile manner where we witnessed gold prices to soared from $1212 to $1226 in minutes,silver followed howevers it took seconds for gold prices to went back to $1219-it doesn't mean it can't go higher than this-This month we have seen some boring sideways movement where prices plunged then made a corrective rally, this is a part of the cycle-however this won't last too long
Please note-when analysing the precious metals market we try to be as objective as possible without getting attached to our positions,and for now it seems nothing has changed fundametally or technically than will affect gold and silver prices over a medium and long term,these short term moves don't affect our long term outlook for the market
most important fundamentals
-Reports suggest that due to cybersecurity risks U.S is thinking to take some harsh action for a Chinese technology firm and may even suspend this firm for future trades which implies that The U.S- China trade war has no improvement-(Many investors and portfolio managers was looking into this matter especially gold-bulls as improvement in the U.S-China trade war would have a major impact( Bullish ) for precious metals sector.U.S. President Trump and Chinese President Xi are scheduled to meet face-to-face in Argentina next week
Existing positions
Currency Pair: XAUUSD -0.61% ( Gold -0.74% )
Sell Stop Entry Price:1220
Take Profit: 1180
Stop Loss:1240
Capital Risk:2000USD(amount may vary depending on your account size and risk tolerance)
Potential Reward: 4000USD
Risk/Reward: 1:2
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Should you require any more information don't hesitate to contact us.
Many regards,
Short term Trades
Currency Pair: XAG -0.83% .USD( silver -0.21% )
Sell Entry Price: 14.500
Take Profit: 14.000
Stop Loss: 15.00
Capital Risk: 2000USD-(amount may vary depending on your account size and risk tolerance)
Potential Reward: 2000USD
Risk/Reward: 1:1
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Please note-when analysing the precious metals market we try to be as objective as possible without getting attached to our positions,and for now it seems nothing has changed fundametally or technically than will affect gold and silver prices over a medium and long term,these short term moves don't affect our long term outlook for the market
most important fundamentals
-Reports suggest that due to cybersecurity risks U.S is thinking to take some harsh action for a Chinese technology firm and may even suspend this firm for future trades which implies that The U.S- China trade war has no improvement-(Many investors and portfolio managers was looking into this matter especially gold-bulls as improvement in the U.S-China trade war would have a major impact( Bullish ) for precious metals sector.U.S. President Trump and Chinese President Xi are scheduled to meet face-to-face in Argentina next week
Existing positions
Currency Pair: XAUUSD -0.61% ( Gold -0.74% )
Sell Stop Entry Price:1220
Take Profit: 1180
Stop Loss:1240
Capital Risk:2000USD(amount may vary depending on your account size and risk tolerance)
Potential Reward: 4000USD
Risk/Reward: 1:2
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Should you require any more information don't hesitate to contact us.
Many regards,
Short term Trades
Currency Pair: XAG -0.83% .USD( silver -0.21% )
Sell Entry Price: 14.500
Take Profit: 14.000
Stop Loss: 15.00
Capital Risk: 2000USD-(amount may vary depending on your account size and risk tolerance)
Potential Reward: 2000USD
Risk/Reward: 1:1
(we can adjust (limit, close or even reverse) the position before this price level is reached)
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.