GOLD - Reached our target 2520,currently preparing to 2540!!!
Updated
Gold prices rose to a new record high of 2520 as traders awaited minutes from the US Federal Reserve's latest monetary policy meeting and a speech by Federal Reserve Chairman Jerome Powell for further indications on whether to cut interest rates this year.
Generally, the trend is up.
Uptrend Side: As long as the price remains above 2495 and the downward trendline, particularly above the 2520 level, which represents our previous high, further upward movement toward the 2540 level is expected.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,495, 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.
Correction: Beware; the price may undergo a strong correction at its high to around the 2475 level.
Tendency Keys: 2495
Generally, the trend is up.
Uptrend Side: As long as the price remains above 2495 and the downward trendline, particularly above the 2520 level, which represents our previous high, further upward movement toward the 2540 level is expected.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,495, 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.
Correction: Beware; the price may undergo a strong correction at its high to around the 2475 level.
Tendency Keys: 2495
Trade active
Gold holds below record high as investors await clarity on Fed cuts
Gold prices were trading below record high levels on Wednesday after a rally fueled by Western fund inflows and U.S. rate-cut optimism, as investors braced for minutes of the Federal Reserve’s latest meeting for clarity on the depth of cuts.
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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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