GOLD decreased slightly after the session set a new record
Updated
World gold price decreased by 3.7 USD to 2,247.8 USD/ounce. After rising sharply to a new record high in the first trading session of April, thanks to expectations of US interest rate cuts and the appeal of gold as a safe-haven asset, metal prices This quarter has slightly adjusted this morning.
Market watchers are currently expecting the FED to cut interest rates in May or June. However, many investors are still cautious about the pace of interest rate cuts by the US Federal Reserve (FED) in the coming months. this year and how long it will take for the FED to bring inflation to its target level of 2%. On March 29, Fed Chairman Jerome Powell said that economic growth is still strong and inflation is still higher than the target level.
By June, the gold market will see gold prices increase due to expectations of interest rate cuts by the FED. Experts believe that, no matter how quickly or slowly the US Central Bank cuts interest rates, the agency will still reduce interest rates this year.
Breakout: 2265 - 2230
Resistance: 2257 - 2175 - 2280
Support: 2245 - 2235 - 2222 - 2212
Market watchers are currently expecting the FED to cut interest rates in May or June. However, many investors are still cautious about the pace of interest rate cuts by the US Federal Reserve (FED) in the coming months. this year and how long it will take for the FED to bring inflation to its target level of 2%. On March 29, Fed Chairman Jerome Powell said that economic growth is still strong and inflation is still higher than the target level.
By June, the gold market will see gold prices increase due to expectations of interest rate cuts by the FED. Experts believe that, no matter how quickly or slowly the US Central Bank cuts interest rates, the agency will still reduce interest rates this year.
Breakout: 2265 - 2230
Resistance: 2257 - 2175 - 2280
Support: 2245 - 2235 - 2222 - 2212
Note
Wait until the morning Gold hour drops to 39-40 then it's good to get in. With a low back like this, it's not easy to dodge sweeps.DXY and Gold in the same phase often sweep randomly
Note
Gold rises above $2,270 as USD weakens slightly following the release of February JOLTS job openings data as expectedNote
Note
Gold prices continued their record march during trading on Wednesday, as fears of inflationary pressures boosted demand for bullion as a means of hedging, with traders ignoring doubts about an imminent cut in US interest rates and rising Treasury bond yields.Note
IMPORTANT ALERT🇺🇸10 Minutes Left For One Of Most Important Economic News
🟢 U.S. ISM Non-Manufacturing Prices
🟢U.S. ISM Non-Manufacturing Purchasing Managers Index (PMI)
Note
In the April 3 session, gold was supported when the ISM services PMI report dropped to 51.4 compared to the initially estimated level of 52.8. The precious metal fell to $2,267 early in the European session but then rebounded sharply and ended the day at $2,293 after the PMI data was released.Note
SELL XAUUSD PRICE 2321 - 2319⚡️ ↠↠ Stoploss 2325
→Take Profit 1 2314
↨
→Take Profit 2 2309
BUY XAUUSD PRICE 2279 - 2281⚡️
↠↠ Stoploss 2275
→Take Profit 1 2286
↨
→Take Profit 2 2291
Note
Missing 15pips takes 150pips🥲Trade closed: target reached
Plan BUY Hit Full TP2 + 130 pips🤕🤕🤕. Congratulations everyoneNote
The opportunity for Godl to decrease to 225x 224x will be more difficult with the current GOLD price position.Unless DXY has reduced unemployment and increased employment there will be more opportunities.
And vice versa, the chance of GOLD going up to 2400 is possible if DXY has bad data. Because GOLD is regaining its BEEF position and DXY is still bad, then let the SELLER bear the losses before that 🔥🔥🔥
Note
The gold market reached a new high of $2,339.57 per ounce, driven by the US economy's strong job growth and low unemployment rate. Wages, however, showed minimal increase in line with expectations.Note
📌Technically, gold price has broken out of its medium-term price increase channel on the weekly chart, indicating that the upward trend will continue in the medium and long term. However, the price is currently far above the moving averages and the RSI is in the overbought zone, suggesting a potential risk of profit taking in the short term. Next week, important support levels for gold prices are at $2,250-$2,200-$2,100 per ounce, while $2,400 per ounce will be a significant resistance zone. The trading plan for next week will focus on buying around $2,250 and selling near the round resistance level of $2,400.
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