🔔🔔🔔Gold news:
➡️ Gold prices have been at the 2900 - 2930 level for a long time, creating strong pressure for gold to break out in the US session yesterday.
➡️ In addition, 2 Weak economic data CPI and PPI of the US along with other weak data and the spreading trade war are the buttons to remove the strong increase of gold to 2990 (+1.95%)
➡️ On the other hand, weak CPI and PPI of the US show that the economy is slowing down, reinforcing concerns about the possibility of recession due to the recent weakness of US fundamentals. making the Fed's interest rate cut expectations also make Gold positive but buyers become cautious in the context of the US dollar and US treasury bond yields rising again.
Personal analysis:
➡️Gold will continue to maintain the uptrend, and the strong psychological target at 3,000 is not far away
➡️However, RSI (1H) enters the extreme level of 82 and is showing signs of divergence, so gold will have a short-term decline today. You should wait for gold's recovery to buy at a good price.
➡️ Analysis based on important resistance - support levels and Fibonacci combined with Pivot points to come up with a suitable strategy
Resistance zone: 2990 3000 3018
Support zone: 2973 2956
Plan:
🔆Price Zone Setup:
👉Buy Gold 2.973 - 2.970 (European session)
❌SL: 2.965 | ✅TP: 2.979 - 2.985 - 2.995
👉Buy Gold 2.954 - 2.956
❌SL: 2.949 | ✅TP: 2,960 – 2,965 – 2,970
👉Sell Gold 3,018 – 3,020
❌SL: 3,025 | ✅TP: 3,014 – 3,010 – 3,005
FM wishes you a successful trading day 💰💰💰
➡️ Gold prices have been at the 2900 - 2930 level for a long time, creating strong pressure for gold to break out in the US session yesterday.
➡️ In addition, 2 Weak economic data CPI and PPI of the US along with other weak data and the spreading trade war are the buttons to remove the strong increase of gold to 2990 (+1.95%)
➡️ On the other hand, weak CPI and PPI of the US show that the economy is slowing down, reinforcing concerns about the possibility of recession due to the recent weakness of US fundamentals. making the Fed's interest rate cut expectations also make Gold positive but buyers become cautious in the context of the US dollar and US treasury bond yields rising again.
Personal analysis:
➡️Gold will continue to maintain the uptrend, and the strong psychological target at 3,000 is not far away
➡️However, RSI (1H) enters the extreme level of 82 and is showing signs of divergence, so gold will have a short-term decline today. You should wait for gold's recovery to buy at a good price.
➡️ Analysis based on important resistance - support levels and Fibonacci combined with Pivot points to come up with a suitable strategy
Resistance zone: 2990 3000 3018
Support zone: 2973 2956
Plan:
🔆Price Zone Setup:
👉Buy Gold 2.973 - 2.970 (European session)
❌SL: 2.965 | ✅TP: 2.979 - 2.985 - 2.995
👉Buy Gold 2.954 - 2.956
❌SL: 2.949 | ✅TP: 2,960 – 2,965 – 2,970
👉Sell Gold 3,018 – 3,020
❌SL: 3,025 | ✅TP: 3,014 – 3,010 – 3,005
FM wishes you a successful trading day 💰💰💰
Trade active
RSI (4H) gives bearish reversal signal after entering extreme overbought zone, everyone pay attention to trading to avoid spreadconsider buying zone 73-70 in Asian session next week
Trade closed: target reached
check gold:Hit +40 pips from 3019
congratulations
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
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.