Gold News:
🔆Gold prices hit a fresh record high above $2,860 on Wednesday morning as concerns over the economic fallout from Trump’s trade tariffs and China’s retaliation continued to boost demand for traditional safe-haven assets.
🔆Gold prices took advantage of a weaker US dollar as trade tensions escalated
🔆The escalation of the US-China trade war weighed on the greenback, with the US Dollar Index (DXY) falling below 108.00.
🔆The benchmark 10-year US Treasury yield remained at bear market levels at 4.51%.
🔆Gold’s uptrend remains intact as price momentum picked up, as depicted by the Relative Strength Index (RSI). RSI (2-hour time frame) gives an overbought signal, but due to the strength of the trend, the most extreme level has increased from 70 to 80 and there is no sign of a reversal
Comment:
🔆Overall, the upward trend of gold prices is supported by fundamental factors such as trade tensions and safe-haven demand. In addition, investors should refer to today's US economic data such as ADP Non-Farm Employment Change and ISM Services PMI to make reasonable trading decisions.
🔆Analysis based on Trend Line combined with Fibonacci and Resistance - Support Zone.
🔆Support level: $2,843 $2,820 $2,800
🔆Resistance level: $2,888 $2,900
Plan:
🔆Price Zone Setup:
👉Buy Gold 2840 -2843 (European session)
❌SL: 2835 | ✅TP: 2849 - 2855 – 2862
👉 Sell Gold 2843 – 2845
❌SL: 2850 | ✅TP: 2839 – 2833 – 2825
👉 Buy Gold 2818 – 2820
❌SL: 2813 | ✅TP: 2825 – 2832 – 2840
Thank you for reading my comment: "FM"
🔆Gold prices hit a fresh record high above $2,860 on Wednesday morning as concerns over the economic fallout from Trump’s trade tariffs and China’s retaliation continued to boost demand for traditional safe-haven assets.
🔆Gold prices took advantage of a weaker US dollar as trade tensions escalated
🔆The escalation of the US-China trade war weighed on the greenback, with the US Dollar Index (DXY) falling below 108.00.
🔆The benchmark 10-year US Treasury yield remained at bear market levels at 4.51%.
🔆Gold’s uptrend remains intact as price momentum picked up, as depicted by the Relative Strength Index (RSI). RSI (2-hour time frame) gives an overbought signal, but due to the strength of the trend, the most extreme level has increased from 70 to 80 and there is no sign of a reversal
Comment:
🔆Overall, the upward trend of gold prices is supported by fundamental factors such as trade tensions and safe-haven demand. In addition, investors should refer to today's US economic data such as ADP Non-Farm Employment Change and ISM Services PMI to make reasonable trading decisions.
🔆Analysis based on Trend Line combined with Fibonacci and Resistance - Support Zone.
🔆Support level: $2,843 $2,820 $2,800
🔆Resistance level: $2,888 $2,900
Plan:
🔆Price Zone Setup:
👉Buy Gold 2840 -2843 (European session)
❌SL: 2835 | ✅TP: 2849 - 2855 – 2862
👉 Sell Gold 2843 – 2845
❌SL: 2850 | ✅TP: 2839 – 2833 – 2825
👉 Buy Gold 2818 – 2820
❌SL: 2813 | ✅TP: 2825 – 2832 – 2840
Thank you for reading my comment: "FM"
Trade active
Update plan:🔆Price Zone Setup:
👉Buy Gold 2840 -2843
❌SL: 2835 | ✅TP: 2849 - 2855 – 2862
👉Sell Gold 2889 -2891
❌SL: 2895 | ✅TP: 2885- 2880 – 2873
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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.