Trade War, Will Gold Hit New ATH?
News:
🔆 Trump postpones tariffs on Mexico and Canada, but not on China. The US 10-year bond yield continued to rise in the short term, reaching 4.57%. This caused the US dollar to recover in the short term, leading to a slight correction in gold prices during the Asian trading session.
🔆 However, China immediately imposed tariffs on US imports in response to the new US tariffs on Chinese goods, triggering a trade war between the world's two leading economies.
Commentary:
🔆 Gold prices are having a slight correction after reaching a new ATH. However, the latest developments in the trade war between countries are causing investors to consider gold as the top safe haven. Gold is expected to decline and then continue to rise in line with the main trend.
Technical Analysis:
🔆 Based on trend lines combined with Fibonacci and Support - Resistance levels
Plan:
🔆Price Zone Setup:
👉Sell Gold 2829 -2830 (European session)
❌SL: 2835 | ✅TP: 2825 - 2820 – 2815
👉 Sell Gold 2843 – 2845
❌SL: 2850 | ✅TP: 2839 – 2833 – 2825
👉 Buy Gold 2770 – 2772
❌SL: 2765 | ✅TP: 2777 – 2783 – 2790
Thank you for reading my comment: "FM"
🔆 Trump postpones tariffs on Mexico and Canada, but not on China. The US 10-year bond yield continued to rise in the short term, reaching 4.57%. This caused the US dollar to recover in the short term, leading to a slight correction in gold prices during the Asian trading session.
🔆 However, China immediately imposed tariffs on US imports in response to the new US tariffs on Chinese goods, triggering a trade war between the world's two leading economies.
Commentary:
🔆 Gold prices are having a slight correction after reaching a new ATH. However, the latest developments in the trade war between countries are causing investors to consider gold as the top safe haven. Gold is expected to decline and then continue to rise in line with the main trend.
Technical Analysis:
🔆 Based on trend lines combined with Fibonacci and Support - Resistance levels
Plan:
🔆Price Zone Setup:
👉Sell Gold 2829 -2830 (European session)
❌SL: 2835 | ✅TP: 2825 - 2820 – 2815
👉 Sell Gold 2843 – 2845
❌SL: 2850 | ✅TP: 2839 – 2833 – 2825
👉 Buy Gold 2770 – 2772
❌SL: 2765 | ✅TP: 2777 – 2783 – 2790
Thank you for reading my comment: "FM"
Trade active
Hit + 35 pips from plan 2843.5Trade closed: target reached
Hit + 110 pips, Great plan
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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.