The upward momentum continues!! XAU
Updated
Hi trader, Maria would like to share opinion: XAU/USD
The price of gold (XAU/USD) experienced a sudden change in direction today, moving away from the $1,885 range, which was its highest level in two weeks. Instead, it settled closer to the lower end of its daily range. This shift in direction was driven by increasing expectations of more interest rate hikes by the Federal Reserve (Fed). The most significant development in global markets over the past 24 hours has been the release of consumer inflation data from the United States (US), which exceeded expectations for September. This data has further strengthened the case for the Fed to tighten monetary policy. As a result, US Treasury bond yields surged overnight and triggered a substantial rally in the US Dollar (USD), as short positions were covered. This rally in the USD was seen as a significant factor putting downward pressure on the price of gold.
Signal today: 13/10/2023
🌸 SELL 1891-1894 SL 1900
TP: 1885, 1878, 1870
🌸 BUY 1872-1875 SL 1865
TP: 1880, 1885, 1890
Good luck everyone $$$, Thank you everyone for reading MARIA's article
The price of gold (XAU/USD) experienced a sudden change in direction today, moving away from the $1,885 range, which was its highest level in two weeks. Instead, it settled closer to the lower end of its daily range. This shift in direction was driven by increasing expectations of more interest rate hikes by the Federal Reserve (Fed). The most significant development in global markets over the past 24 hours has been the release of consumer inflation data from the United States (US), which exceeded expectations for September. This data has further strengthened the case for the Fed to tighten monetary policy. As a result, US Treasury bond yields surged overnight and triggered a substantial rally in the US Dollar (USD), as short positions were covered. This rally in the USD was seen as a significant factor putting downward pressure on the price of gold.
Signal today: 13/10/2023
🌸 SELL 1891-1894 SL 1900
TP: 1885, 1878, 1870
🌸 BUY 1872-1875 SL 1865
TP: 1880, 1885, 1890
Good luck everyone $$$, Thank you everyone for reading MARIA's article
Note
The price is still moving towards the 1891-1894 price rangeNote
Price fluctuations are very large, the impact of war directly affects the price of gold. Helps gold prices increase sharply
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