Gold Market Update:
🔆On Tuesday, the key market event was Federal Reserve Chair Jerome Powell's testimony to Congress, which was less hawkish than expected and could weaken the U.S. dollar.
🔆Powell reaffirmed that no immediate policy changes are planned, maintaining the Fed’s 2% core inflation target. While he acknowledged that inflation remains elevated, he emphasized a patient approach to monetary adjustments.
🔆With Powell taking a neutral stance on interest rates and trade policy, the Fed is expected to keep rates steady at 4.25%-4.50% in March.
🔆Meanwhile, the U.S. 10-year Treasury yield remained firm at 4.55%, continuing its rebound from last week’s yearly low of 4.40%. Additionally, the Fed's sentiment indicator on the daily chart suggests a slight softening in the central bank’s previously hawkish stance.
Technical Analysis:
🔆Using the RSI (1H) indicator in combination with trend lines and key resistance-support levels.
Personal Outlook:
🔆The DXY index and U.S. 10-year bond yield are seeing slight gains, which could put downward pressure on gold prices. With Powell’s neutral stance, gold may experience a short-term decline after recently hitting all-time highs. Investors are also monitoring potential developments in Trump’s tariff policies and the ongoing Gaza conflict to adjust their strategies accordingly.
Plan:
🔆Price Zone Setup:
👉Sell Gold 2905 -2907
❌SL: 2912 | ✅TP: 2900 - 2995 – 2987
👉Buy Gold 2869 -2871 ( Asian session)
❌SL: 2864 | ✅TP: 2875 - 2880 – 2890
👉Buy Gold 2833 -2835
❌SL: 2827 | ✅TP: 2840 - 2850 – 2860
🔆On Tuesday, the key market event was Federal Reserve Chair Jerome Powell's testimony to Congress, which was less hawkish than expected and could weaken the U.S. dollar.
🔆Powell reaffirmed that no immediate policy changes are planned, maintaining the Fed’s 2% core inflation target. While he acknowledged that inflation remains elevated, he emphasized a patient approach to monetary adjustments.
🔆With Powell taking a neutral stance on interest rates and trade policy, the Fed is expected to keep rates steady at 4.25%-4.50% in March.
🔆Meanwhile, the U.S. 10-year Treasury yield remained firm at 4.55%, continuing its rebound from last week’s yearly low of 4.40%. Additionally, the Fed's sentiment indicator on the daily chart suggests a slight softening in the central bank’s previously hawkish stance.
Technical Analysis:
🔆Using the RSI (1H) indicator in combination with trend lines and key resistance-support levels.
Personal Outlook:
🔆The DXY index and U.S. 10-year bond yield are seeing slight gains, which could put downward pressure on gold prices. With Powell’s neutral stance, gold may experience a short-term decline after recently hitting all-time highs. Investors are also monitoring potential developments in Trump’s tariff policies and the ongoing Gaza conflict to adjust their strategies accordingly.
Plan:
🔆Price Zone Setup:
👉Sell Gold 2905 -2907
❌SL: 2912 | ✅TP: 2900 - 2995 – 2987
👉Buy Gold 2869 -2871 ( Asian session)
❌SL: 2864 | ✅TP: 2875 - 2880 – 2890
👉Buy Gold 2833 -2835
❌SL: 2827 | ✅TP: 2840 - 2850 – 2860
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
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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.