💥After the gold price reached a new all-time high, it encountered a sell-off and fell back to more than 120 US Dollars an ounce from a high of 2,450 USD/ounce. Gold continued to fall when the FED made new statements. about monetary policy. Gold prices will continue to decline if the US economy continues to grow and data shows that the US economy is still at a good level.
💥The recent trend of the United States maintaining high interest rates for a longer period of time will support the US Dollar and US bond yields at high levels, putting certain pressure on the precious metals market. However, in the corner More generally if the Federal Reserve begins to cut interest rates in the future, it will significantly support gold prices. In addition, with the support of factors such as central banks continuously increasing gold purchases and the increasing instability of the global geopolitical situation, the potential for gold prices to increase in the near future still remains. big.
💥After a sweep to the 2325 price range as in previous analysis, gold rebounded strongly to 2335, back in the sideway range. Currently, the currency pair is waiting for GDP data to determine the next market trend. Gold price has reached the important level of 2325, the next level of the downtrend is heading towards 2305, an area where we can BUY long term. In the opposite direction, gold bounces strongly from 2325, the resistance level of 2360 (EMA 89) will be an important area to know that the uptrend has returned to gold and the short-term downtrend has ended.
💥The recent trend of the United States maintaining high interest rates for a longer period of time will support the US Dollar and US bond yields at high levels, putting certain pressure on the precious metals market. However, in the corner More generally if the Federal Reserve begins to cut interest rates in the future, it will significantly support gold prices. In addition, with the support of factors such as central banks continuously increasing gold purchases and the increasing instability of the global geopolitical situation, the potential for gold prices to increase in the near future still remains. big.
💥After a sweep to the 2325 price range as in previous analysis, gold rebounded strongly to 2335, back in the sideway range. Currently, the currency pair is waiting for GDP data to determine the next market trend. Gold price has reached the important level of 2325, the next level of the downtrend is heading towards 2305, an area where we can BUY long term. In the opposite direction, gold bounces strongly from 2325, the resistance level of 2360 (EMA 89) will be an important area to know that the uptrend has returned to gold and the short-term downtrend has ended.
Trade active
Note
Gold price advances modestly, all eyes on US PCE data.Gold price rises modestly on Friday on the back of the softer US dollar and lower US yields.Traders place higher bets that the Federal Reserve will cut the interest rate this year after the recent weaker US GDP data. Furthermore, the geopolitical risks and conflicts in the Middle East might boost the precious metal.
Gold is still trading below the two EMA lines in the h1 time frame so it needs more time for gold to reach the resistance level of 2354 as expected.
JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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.
JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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.