XAUUSD : Gold is falling to create upward momentum today
Updated
The greenback continues to weaken but gold is not really benefiting
Gold price is currently quite calm around the 2,305 USD mark. Optimistic market sentiment, falling US government bond yields and a weakening USD are the factors that are having the main impact on this precious metal.
Investors are continuing to evaluate Chairman Jerome Powell's comments on Wednesday and the Fed's decision to leave interest rates unchanged. Previously, investors predicted the Fed would take a more "hawkish" stance. However, the reality is the opposite and the price of gold has skyrocketed to nearly 2,330 USD. However, gold could not maintain this increase and turned down afterwards and is currently trading around the $2,305 mark, just below the 20 EMA.
Gold price is currently quite calm around the 2,305 USD mark. Optimistic market sentiment, falling US government bond yields and a weakening USD are the factors that are having the main impact on this precious metal.
Investors are continuing to evaluate Chairman Jerome Powell's comments on Wednesday and the Fed's decision to leave interest rates unchanged. Previously, investors predicted the Fed would take a more "hawkish" stance. However, the reality is the opposite and the price of gold has skyrocketed to nearly 2,330 USD. However, gold could not maintain this increase and turned down afterwards and is currently trading around the $2,305 mark, just below the 20 EMA.
Trade active
BUY 2299 - 2301TP 2305
TP2 2310
SL 2290
BUY Limit 2291 - 2293
TP : 2300
TP1 : 2305
SL 2285
Note
Hit tp1 50 pips
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