Gold → continue to downward movement
Updated
hello guys...
gold is at the bottom of an ascending channel so we can consider a little upward movement from here!
but from my point of view, I think it would continue to downward movement from 33% (the drawing arrow) or 50%(the blue area) of the last leg!
targets is indicated in the chart are:
2285
2255
2222
___________________________
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❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
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gold is at the bottom of an ascending channel so we can consider a little upward movement from here!
but from my point of view, I think it would continue to downward movement from 33% (the drawing arrow) or 50%(the blue area) of the last leg!
targets is indicated in the chart are:
2285
2255
2222
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Note
fundamental news:Gold prices (XAU/USD) show a slight negative trend after pulling back from recent two-week highs during Friday's European trading session. Investors are cautiously awaiting the U.S. Nonfarm Payrolls (NFP) report, which is expected to significantly influence the Federal Reserve's policy decisions and impact gold prices. Rising expectations of a Fed interest rate cut in September, supported by softer U.S. macroeconomic data, continue to buoy gold prices. Additionally, dovish Fed expectations are keeping U.S. Treasury bond yields and the U.S. Dollar near multi-week lows, which helps limit gold's downside. Geopolitical tensions in the Middle East also suggest that gold's price is more likely to rise.
Note
the first blue area touched:Trade closed: target reached
the second blue area touched the target
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