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GOLD 23/05: Will buyers counterattack?TVC:GOLD Gold price (XAU/USD) failed to defend the immediate support at 1975$ during the Asian session. The precious metal fell sharply as Federal Reserve (Fed) policymakers were confident the central bank would raise interest rates more in its fight against persistent US inflation. Gold prices are expected to plummet after breaking below the demand zone placed in the 1,955$-1,975$ range on a four-hour scale. The 20-period exponential moving average (EMA) at 1,970$ is acting as an obstacle for Gold bulls. The Relative Strength Index (RSI) (14) has slipped back into the 20.00-40.00 bearish range, which signals that bearish momentum has been activated again. BUY TVC:GOLD zone 1950-1953 Stoploss: 1945 Take Profit 1: 1958 Take Profit 2: 1963 Take Profit 3: 1970 Note : TP, SL full to be safe and win the market !
TVC:GOLDLong
by DNA_TradingFX
10
GOLD 22/05: Gold has climbed above the 1980 zone!TVC:GOLD Gold prices have rebounded above potential resistance, which has turned support, drawn from mid-month lows at $1,970 on a four-hour scale. The precious metal shows a V-shaped recovery from around 1955 amid the emergence of responsive buyers. Confident sustainability above the 20-period Exponential Moving Average (EMA) at $1,980 will turn the short-term trend positive. The Relative Strength Index (RSI) (14) briefly moved back into the 40.00-60.00 range, which indicates a bullish reversal. US Dollar Index (DXY) refreshed intraday low at 102.96 as Fed is expected to keep rate policy unchanged due to tightening credit conditions by regional banks The US is putting pressure on inflation. SELL GOLD zone 1993-1995 Stoploss: 2000 Take Profit 1: 1988 Take Profit 2: 1983 Take Profit 3: 1975
TVC:GOLDShort
by DNA_TradingFX
4
GOLD:17/05 After last night's news, the downward trend continuesTVC:GOLD Gold prices (XAU/USD) showed some buying interest after falling below 1990 during the Tokyo session. The precious metal has seen some recovery as the US Dollar Index (DXY) is struggling to extend its rally above 102.75. Gold price has yet to develop a strong uptrend as it needs to pass more filters to gain traction. Gold price analyzed the breakdown of the Rising Channel chart pattern formed on the four-hour scale, however, the breakdown needs to pass some more filters. An intermediate resistance is drawn from the May 5 low of 1999.55. The 10-period exponential moving average (EMA) sloping down at $2,000 is hindering the Gold bulls. The Relative Strength Index (RSI) (14) has slipped into a bearish 20.00-40.00 range, which suggests more bearishness to come. SELL GOLD 2002- 2005 Stoploss: 2010 Take profit 1: 2000 Take profit 2: 1995 Take profit 3: 1985
TVC:GOLDShort
by DNA_TradingFX