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LIVE ACCOUNT or PROP FIRM? A Comprehensive GuideIn this video I discuss the pros and cons of trading with a Live Account or with a Prop Firm Account. Hopefully, this will give you a better idea on what would be more ideal for your situation and style of trading. The FIVE factors I will talk about are: 1. Account Ownership 2. Regulations 3. Profit Potential 4. Financial Risk 5. Trading Rules At the end of the day, as a trader you should ALWAYS manage your money and your risk. Every choice you make is a trade. When you go to work, you trade your time for money. When you drink a bottle of coca cola you trade your health for quick gratification. Everything is a trade. If you go with a prop firm, treat it with the same respect as a live account. If you trade with a live account with a small balance, treat it like it is a large balance. Your wealth is a consequence of who you are as a person and how you live your life. Trade smart, trade safe! - R2F
Education
by Road_2_Funded
Market News Report - 01 July 2024Introduction The winners and losers in the past week within the FX market were the same as the previous. Yen remains heavily shorted, while the Australian and Canadian dollars reigned supreme against the competition. While the USD dollar had mixed results on the economic calendar, it held decent strength against a few currencies. These are a few markets that our latest report will cover to prepare you for the current week. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. Last week's month-on-month CPI (Consumer Price Index) came in lower than expected. Furthermore, the Federal Reserve Bank recently indicated that we should expect at least one interest rate cut this year. Despite the sentiment above, DYX made a new weekly high and looks set on its path to test the major resistance at 106.490, some distance away from the major support level at 103.993. Thus, the outlook is weak bearish rather than full-on bearish. Long-term outlook: weak bearish. The anticipated Fed rate cut is the primary bearish driver for the greenback. Traders should consider the upcoming ISM (Institute for Supply Management) index and NFP (Non-Farm Payrolls) numbers, both of which analysts predict lower results than previous figures. Still, if either of these fundamentals turns out better than expected, bullish surprises for the dollar are possible. Euro (EUR) Short-term outlook: weak bearish. While the ECB hasn't decided whether to be hawkish or dovish in the future, the recent rate cut drives the euro's bearish force. The second catalyst is the surprise drop in the PMI (Purchase Managers Index) on June 21 2024. Another risk to the euro is the far-right National Rally political party amid the French elections. The euro was close to reaching the major support at 1.06494 earlier in the week. The fundamentals suggest that this market will probably attempt to revisit this level instead of the further resistance (at 1.09160), confirming the bearish bias. Long-term outlook: weak bearish. Aside from the interest rate, other bearish drivers include the French legislative election. Euro traders should note several high-impact events this week, namely Langarde's speech and new Retail Sales data. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) continues to show dovish tendencies, partly due to the recent drop in UK services or PMI data. STIR (short-term interest rate) markets envision a 43% chance of a BoE rate cut next month. The technicals match pretty well with the above sentiment, making low after low in the past few weeks. Although GBP is far from the major support level at 1.24457, seeing another low soon wouldn't be surprising. Meanwhile, the key resistance lies high up at 1.28606. Long-term outlook: bearish. The interest rate is the chief bearish driver for the pound amid a mostly bleak economic bleak. As always, any better-than-expected growth data can present some short-term upside. Japanese yen (JPY) Short-term outlook: weak bullish. The 'weak bullish' aspect is due to the Bank of Japan's recent decision to keep the interest rate unchanged. The Bank of Japan Governor, Kazuo Ueda, also recently stated that "depending on economic, price, and financial data and information available at the time, there is a chance we could raise interest rates at the July meeting." Furthermore, STIR markets see a 60% chance of a rate hike in the meeting at the end of the month. Despite the slightly bullish outlook, the yen made history by reaching an all-time high of 161.285, breaking its previous major resistance of 160.233. So, it's clear this market is all the way up. The key support remains at 154.546. However, it would take a miracle for USD/JPY to move above this area. Long-term outlook: weak bullish On the one hand, the yen offers mild bullishness due to the expected rate hike. Furthermore, catalysts that push US Treasury yields lower (e.g., weaker jobs data, lower core PCE) would also be positive for the yen. Finally, a big beat in new CPI data is another consideration. However, things don't look rosy on the charts. To combat this, the Ministry of Finance in Japan has hinted at intervention once the yen exceeds a value of 160.00 (which it already has). Australian dollar (AUD) Short-term outlook: weak bullish. The recent Reserve Bank of Australia meeting on June 17 aligned with the sentiment of unceasing inflation. So, it's a given that the RBA should hike the interest rate next month. Another point worth mentioning is the CPI print at the end of July, with expectations of a positive outcome. Finally, the Australian dollar shares an interesting correlation with China. Data indicating growth in this region (stimulus, new infrastructure projects, solid economic data, etc.) should boost the former. While showing some bullish fundamentals, the Aussie's range-bound conditions continue. The key support (0.65580) and key resistance (0.67141) levels remain neither far nor close to each other. While this market can go either way, the short-term outlook suggests it may lean more towards the upper regions. Long-term outlook: weak bullish. The unchanging of the interest rate (along with a potential hike) are the main bullish drivers. However, a weak result in the upcoming CPI may encourage the bears. Furthermore, the Australian dollar is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bullish. Like the RBA, the Reserve Bank of New Zealand (RBNZ) is also battling inflation. So, there is an incentive to be hawkish. However, as with the Aussie, the Kiwi is a pro-cyclical currency with high sensitivity to developments in China. After showing similar price action to AUD, the New Zealand dollar has just broken a notable support level. The next target would, of course, be down at 0.58746, while the key resistance is at a higher level at 0.62220. So, the technicals seem to contradict what is fundamentally happening with the Kiwi. Long-term outlook: weak bullish. The hawkish stance suggested by the RBNZ is the key bullish catalyst. Still, any out-of-consensus CPI prints in the near term and sensitivity to other global economies like China could derail the currency. Canadian dollar (CAD) Short-term outlook: weak bearish. STIR markets indicate a 50/50 chance for the Bank of Canada to cut rates this month. The Governor of the Bank of Canada, Macklem, has also suggested this would happen if inflation became stickier. Interestingly, last week's CPI numbers were all positive for the Canadian dollar - hence the 'weak bearish' outlook. CAD remains in full-on range mode. Just as it looked to break the key support at 1.35896, it quickly reverted. The key resistance is at 1.37919. Based on the chart dynamics, it's anyone's guess where the price will go this week. Long-term outlook: weak bearish. The long-term outlook is the same as the short-term. Expectations of a rate cut remain the centre of bearish attention. However, CAD may be redeemed by encouraging oil prices. Swiss franc (CHF) Short-term outlook: bearish. STIR markets were predictably accurate with their 76% chance of the Swiss National Bank (SNB) cutting the interest rate last Thursday. Secondly, SNB expects a moderate improvement in inflation and GDP (Gross Domestic Product) and unemployment to rise slightly in the near term. The market recently attempted to break a key support area for the Swiss franc. However, the latest expected rate cut for the Swiss franc's interest rate caused a U-turn. Now, USD/CHF's key support and resistance levels lie at 0.88268 and 0.91582, respectively. Long-term outlook: bearish. The expected rate cut in the next SNB meetings (in September and December 2024) is the key bearish driver for the Swiss. However, the bank's willingness to intervene and geo-political events may give the latter some upside. Conclusion On the technical side, it will be interesting to see if Aussie and CAD could breach their ranges. Let's also see if the yen may find some strength for a change this week. The key news to diarise this week includes the minutes by the RBA and Fed, the year-on-year euro inflation rate, and the CAD unemployment rate. So, that's it for this report - we hope you are well-prepared!
TVC:DXY
by CityTradersImperium_CTI
Market News Report - 23 June 2024Introduction The Japanese yen continues to take a beating in the forex markets. Meanwhile, the Aussie and Canadian dollar were the strongest currencies in the past week. USD was the surprise from our initial short-term outlook thanks to a meagre rise in Retail Sales. Read on to learn about what happened in forex last week and what to expect for this one. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. The Fed recently indicated that we should expect at least one interest rate cut instead of three this year. On the bright side, the Fed sees inflation moving in the right direction. This is due to progress in the latest CPI (Consumer Price Index) and PPI (Producer Price Index) readings. Interestingly, the technicals tell a different story. The Dixie looks to test the major resistance at 106.490, while the major support is far below at 103.993. So, from a technical perspective, the dollar is more bullish than bearish. Long-term outlook: weak bearish. Traders will look forward to the new data on PPI in mid-July, which is expected to have a negative result. Along with an anticipated rate cut, these would be the two bearish drivers for the greenback in the long term. However, the technicals are against this outlook, hence the ‘weak bearish’ bias. Euro (EUR) Short-term outlook: weak bearish. The euro continues to suffer from the recent interest rate cut by the European Central Bank. However, incoming data, such as a boost in inflation at the start of next month, could marginally improve the weak bearish bias. The 1.06494 support area continues to sustain the euro. However, considering the fundamental evidence, the market will still seek to retest this area. Although the key resistance is at 1.08524, the price will likely visit the support instead. Long-term outlook: weak bearish. No high-impact news is expected this week for the euro. The bearish bias remains intact. However, incoming growth in data like inflation could rescue the currency. Furthermore, US monetary policies have often impacted the euro both ways, meaning this is something to consider in your analysis. British pound (GBP) Short-term outlook: bearish. As predicted, the Bank of England left the interest rate unchanged at the June 20th meeting. Furthermore, STIR (short-term interest rate) markets suggest a 43% chance of a rate cut in August. As it did last week, the British pound has broken another minor support area. Still, the key support level is some distance away at 1.24457. On the other hand, the key resistance lies high up at 1.28606. While the gap between these two points is wide, it makes more sense to have a bearish outlook when accounting for the fundamentals. Long-term outlook: bearish. Like the short-term outlook, the interest rate is the primary bearish driver for the pound. Traders will look forward to statements from Andrew Bailey (the Governor of the Bank of England) this week, as any indications of a rate cut in August would likely send GBP lower. Japanese yen (JPY) Short-term outlook: weak bullish. The ‘weak bullish’ aspect is due to the Bank of Japan’s recent decision to keep the interest rate unchanged, with STIR markets forecasting a hike next month. The yen continues to be a huge loser and is nearing its all-time high at 160.233 (key resistance). Even though the short-term outlook is favourable for the yen, this market is quite bullish. The key support remains at 154.546. But it would take a miracle for USD/JPY to get anywhere near this area. Long-term outlook: weak bullish USD/JPY is an interesting case. On the one hand, there is mild bullishness due to the expected rate hike next month. Furthermore, catalysts that push US Treasury yields lower (e.g., weaker jobs data, lower core PCE) would also be positive for the yen. However, things don’t look rosy on the charts. To combat this, the Ministry of Finance in Japan has hinted at intervention once the yen exceeds a price of 160. Australian dollar (AUD) Short-term outlook: weak bullish. The recent Reserve Bank of Australia meeting on June 17 recognised that inflation is persistent. This is an impetus for the central bank to hike interest rates in August 2024 or, at the very least, leave them untainted, as they’ve done since November 2023. The Australian dollar shares an interesting correlation with China. Data indicating growth in this region (stimulus, new infrastructure projects, solid economic data, etc.) should boost the former. Despite the bullish outlook, the Aussie finds itself in a range, with 0.67141 as the key resistance. Conversely, the key support is at 0.65580. The support that lies below the range would be an area of interest in the short term. However, fundamentals indicate a likelihood for the Aussie to move more bullishly. Long-term outlook: weak bullish. As hinted in our last report, the RBA kept the rates unchanged. Still, a weak result in the upcoming CPI (linked to inflation) may encourage more bears. Furthermore, the Australian dollar is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bullish. Unsurprisingly, the Kiwi mirrors the sentiment of the Aussie. The Reserve Bank of New Zealand (RBNZ) is also battling inflation. So, there is an incentive to be hawkish. However, as with AUD, NZD is a risk-sensitive or pro-cyclical currency, especially in relation to developments in China. Like its neighbour, the Kiwi is in a range. The only difference is that this market is near minor support (0.62219) instead of major resistance (0.62219). So, NZD appears a bit bearish on the charts compared to the Aussie. Long-term outlook: weak bullish. The hawkish stance suggested by the RBNZ is the key bullish catalyst. Still, any out-of-consensus CPI prints in the near term and sensitivity to other global economies like China could derail the currency. Canadian dollar (CAD) Short-term outlook: weak bearish. STIR markets indicate a 50/50 chance for the Bank of Canada to cut rates next month. The upcoming CPI event (on 25 June 2024) will be significant, where negative numbers would likely push CAD lower and reassert the BoC’s stance on dropping the interest rate. Conversely, a big beat in CPI, along with an upside in oil this week, may boost the Canadian dollar. USD/CAD is in a range as with the Aussie and Kiwi charts. The key resistance is at 1.37919, while the key support lies at 1.35896. Given that USD and CAD exhibit bearish fundamentals, this market can go either way. Long-term outlook: weak bearish. The long-term outlook is the same as the short-term. Expectations of a rate cut remain the centre of bearish attention. However, CAD may be redeemed with positive CPI data and oil prices. Swiss franc (CHF) Short-term outlook: weak bearish. STIR markets were predictably accurate with their 76% chance of the Swiss National Bank (SNB) cutting the interest rate last Thursday. Secondly, SNB expects moderate improvement in inflation and GDP (Gross Domestic Product) and unemployment to rise slightly in the near term. USD/CHF began last week by breaking a key support area at 0.88810. However, the latest expected rate cut for the Swiss franc’s interest rate caused a U-turn in this market. Now, USD/CHF’s key support and resistance levels lie at 0.88268 and 0.91582, respectively. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings (in September and December 2024) is the key bearish driver for the Swiss. However, the bank's willingness to intervene and geo-political events may give the latter some upside. Conclusion Can the Aussie, Kiwi, and CAD break out of their ranges? Will USD/JPY reach 160 or higher? What will Bailey say? These are interesting questions that should be answered this week. Hopefully, this report has prepared you in the simplest way on both the technical and fundamental side of things.
by CityTradersImperium_CTI
keep calm XAUGOOD MORNING everyone for more info, check the signature space below 🔽 HERE WE ARE, Traders. I kindly ask you to leave a like below the image. if you want to continue receiving free analysis. It costs you very little, but it makes a huge difference for me. ^GOLD ANALYSIS^ The weekly close makes me think of a continuation long until the 2300 level is decently invalidated; the breakout happened, but it's not enough for me. On the daily level, I would expect a SMT (play) below the lows where I marked the chicken, and then look for an upward movement from there. We have two zones to keep under control. As you know, I only trade New York, so I don't trade until 14:00. Plus, we have news at 14:30. Monitor it, and we'll update live. Let me know what you think in the comments! Thank you very much, everyone. For any doubts or questions, don't hesitate to write to me; I will be happy to answer you. for more info, check the signature space below 🔽 -Have a good day -Happy trading -Use stops -Manage risk
OANDA:XAUUSD
by X_GoldenBoy_X
Market News Report - 16 June 2024The euro and Japanese yen were the biggest losers in the past week, facing losses against several currencies exceeding 1%. Both markets declined based on their expected short and long-term outlooks. The British pound also lost some ground recently, aligning with a few fundamentals. Of course, there are other interesting developments to observe to begin yet another week in the ever-liquid forex market. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: weak bearish. Building on the prior week's Non-Farm Payrolls, the US dollar benefitted from positive inflation figures. Meanwhile, the Dixie or dollar index fooled many traders. It first broke the major resistance discussed last week, and just as it looked to test the previous support, it made a new high, breaking the resistance at 105.742. So, the next resistance target is at 106.490, while the support lies far below at 104.257. In short, DXY looks more bullish than bearish. Long-term outlook: weak bearish. Despite the technicals, the long-term outlook is 'weak bearish.' This is based on the Fed keeping the interest rate unchanged last week and the potential for the central bank to cut it at least once this year. The latest inflation data also went against the greenback. However, positive changes to upcoming news, such as retail sales, could strengthen the dollar. Euro (EUR) Short-term outlook: weak bearish. The euro still feels the effects of the recent interest rate cut by the European Central Bank, along with negative inflation data. The euro closed the week by breaking two support levels, confirming this short-term outlook. So, we should expect this market to test the nearby support at 1.06494. Meanwhile, it is a considerable distance from the resistance at 1.08524. Thus, the euro is likelier to test the former than the latter. Long-term outlook: weak bearish. The long-term outlook remains the same from the last few weeks, thanks to worsening inflation, a poor Gross Domestic Product, and the rate cut. With no high-impact news to anticipate this coming week, the bias must be bearish until new significant changes occur. British pound (GBP) Short-term outlook: bearish. The British pound suffered from lacklustre economic data concerning unemployment and Gross Domestic Product (GDP). Moreover, the Bank of England (BoE) has left the interest rate unchanged since November 2023 and asserted that they must be dovish for some time. The technical analysis aligns with this outlook. GBP broke the recent support (at 1.26866) discussed in last week's report. There are multiple resistance points of reference after this level. However, the key one lies far ahead at 1.24457. Meanwhile, the critical support lies at 1.28606 Long-term outlook: bearish. The new Bank of England's bank rate (or interest rate) will be the most anticipated event happening on Thursday. The consensus is for the central bank to keep the rate unchanged or potentially cut it. Still, we should expect surprises, such as the upcoming year-on-year inflation data the day prior, where the BoE remains confident of reaching its target. Japanese yen (JPY) Short-term outlook: weak bullish. While the Bank of Japan kept interest rates unchanged last week, STIR (short-term interest rate) markets indicate a rate hike next month. Lower US Treasury yields, which usually offer a bullish JPY, would also be a catalyst. Despite this outlook, the Japanese yen was technically among the biggest losers. Having breached the recent key resistance, all eyes will be on the next target at 160.233. This is significant as it would be an all-time high and a 'line in the sand' for the Bank of Japan. On the other hand, the key support is far below at 154.546. Long-term outlook: weak bullish As with the short term, the anticipated rate hike would provide JPY with an upside. Additionally, it would also be declining Treasury yields. Finally, any intervention or active involvement of Japan's Ministry of Finance through selling the dollar to buy the yen is also worth considering. Australian dollar (AUD) Short-term outlook: weak bullish. The interest rate linked to the Aussie has remained at 4.35% since November last year. Furthermore, the Reserve Bank of Australia (RBA) has revised its inflation forecasts higher. The Australian dollar shares an interesting correlation with China. Data indicating growth in this region (stimulus, new infrastructure projects, solid economic data, etc.) should boost the former. Technically, things are pretty interesting for the Aussie. We see a range amid an uptrend, along with a false break at last week's key resistance area (then 0.66986). The new support to watch is now 0.67043, while the key support lies not far below at 0.65580. Long-term outlook: weak bullish. Aussie traders will have keenly diarised the RBA interest rate on Tuesday. The central bank will likely keep the rate unchanged or raise it, which would benefit the currency. Still, the Australian dollar is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bullish. The Reserve Bank of New Zealand (RBNZ) is very much like the neighbouring RBA. While keeping rates the same, Governor Orr indicated a hike almost occurred. They also hinted last month that a rate hike would only "be meaningful if we thought inflation expectations were getting away on us again." Like other central banks, the RBNZ is battling inflation and seeks to keep it at 2%. It comes as no surprise that NZD mirrors the price action of AUD. This market also produced a false break at last week's support level (then 0.62155). The new key resistance level is now 0.62220, while 0.60888 is the key support. Long-term outlook: weak bullish. The hawkish stance suggested by the RBNZ is the key bullish catalyst. However, incoming data regarding the economy and labour will also play a role. Furthermore, the New Zealand dollar is also a risk-sensitive currency like the Aussie, which can also be detrimental. Canadian dollar (CAD) Short-term outlook: bearish. After the recent rate cut two weeks ago, STIR markets show a 50/50 chance of the same next month. The Bank of Canada has also confirmed a dovish path. USD/CAD spanned almost the range between last week's key support and resistance areas. So, really, this market can go either way. The key support is at 1.36630, while the key resistance is at 1.37919. Long-term outlook: bearish. Besides the expected rate drops, the Canadian dollar is often sensitive to oil prices. However, any rise in the latter regard can strengthen CAD, along with upcoming positive inflation, jobs and GDP data. Swiss franc (CHF) Short-term outlook: weak bearish. STIR markets see a 76% chance of the Swiss National Bank cutting rates on Thursday. Furthermore, the chairperson Thomas Jordan recently hinted at intervention, where they would sell currencies like the US dollar and euro to strengthen their own. Surprisingly, USD/CHF hovers quite close to the key support at 0.88810 while being a considerable distance from the key resistance at 0.91582. Long-term outlook: weak bearish. Although high chances of a rate cut are bad news for the Swiss franc, SNB's willingness for intervention and geo-political risks may spell an upside for the currency. Conclusion The fundamental biases from last week's report remain the same for the current period. It will be interesting to see how the action unfolds on the charts, with high-impact news events to anticipate, like the interest rate decisions for GDP and AUD. Understanding the fundamental and technical sides of trading in the simplest way possible is crucial in making well-informed decisions. That's the point of these reports by City Traders Imperium.
TVC:DXY
by CityTradersImperium_CTI
USDJPY Forecast for the WeekThe USD/JPY pair is experiencing volatility this week, driven by economic indicators and central bank sentiments. Initially pressured by lower-than-expected April inflation data, the US dollar saw potential for Fed policy easing, though Fed representatives have remained cautious. Weak preliminary Japanese GDP figures further contributed to uncertainty, potentially delaying Bank of Japan interest rate hikes. Technically, the pair is within a long-term ascending channel, with resistance at 156.25 and support at 153.12. Technical indicators suggest an uptrend continuation, but traders are closely monitoring central bank actions and key levels for further direction. Resistance levels: 156.25, 159.37, 162.50. Support levels: 153.12, 150.00. Long positions can be opened above the 156.25 mark with targets of 159.37, 162.50 and stop-loss around 154.00. Short positions should be opened below the level of 153.12 with the target of 150.00 and stop-loss around 155.20.
by PropTradePros
How to win a PROP FIRM? Some life-changing trickSome people asked me a system to win prop-firm challenge and be funded. I decided to share some mind blowing trick that can really let you win your first prop firm and became really, really profitable. Lot of people ask lot of money for this, i am just asking a like, a follow and your support. So, let's start with some trick: - If you have a $10.000 account, what lot size will you use? - Most traders use 0.50/1.0 Lots a trades. Let me say, especially if you are a beginner, that this is wrong and you will fail 100%. Why? Because it will be really hard for you to manage emotions and be accurate. I know, some systems use 1:3, 1:6 or above R:R and you can also have a 30% win rate to be still profitable. I know that, i know how to increse accuracy, i know the best level to enter, the inducement entry, the high accuracy setup and most of the shit you can find online. But let's be honest, most of the traders that start a challenge account, sucks with system and will fail. And, most important, traders that start a challenge are not professionals that can spent 8/10 hrs a day waiting for the best entry. - So what system should i use to win a challenge? - Swing. Probably, if you start a challenge, you will fail in the first week. Go swing, wait for the profits, manage the entries, and using my money management system, you can chill and don't be worried during the challenge. - What about the money management so? - I will explain you better in a new thread, if this ideas will reach at least 15 likes. - This shit is not helpful, i there is nothing new that can help me. - So, i will show you something so simple that will change your trading style in a second. I suggest you to use cTrader. In cTrader, when you open a pair, you can see market sentiment. this will show you a ratio about long/short. When you see that the sentiment is imbalanced (More than 60% are long or short) you know that you should wait and not open a trades. You will see the sentiment increasing in long or short (it will be 80/20, and probably more in the next days). I am pretty sure your analysis are agree with the market sentiment. So, if 97% of the traders loose money and, for example, 85% of traders are short, what do you think the price will do? There are high chances will go in the opposite direction. So wait, and don't be worried to miss a profitable trades. Every trader is thinking exactly like you. Sentiment is telling you that. They will loose money at 97%, do you? I have lot of trick more that will really help you win a prop firm, and be profitable. Support and follow me and i will reveal more
Education
by SaliJournal
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OANDA:XAUUSD
by tripplepips
XAUUSD TO 2000$ 🤔 ?Gold price has faced a sharp sell-off after failing to recapture the weekly high of $2,062. The precious metal has dropped to near $2,030 and is expected to remain on tenterhooks before getting fresh cues about the timing of rate cuts from the Fed. The yellow metal has surrendered entire gains generated on Monday and has corrected below the 20-day Exponential Moving Average (EMA), which trades around $2,039. More downside could appear in the Gold price if it fails to defend the January 3 low of $2,030, which will expose it towards the psychological support of $2,000.
TVC:GOLDShort
by ZumixFX