The Next Trend of XauusdGold Trend Update:
🔆Gold has now dropped to 2882 and is recovering to 2895.
🔆RSI (1H) remains in strong sell zone
Personal opinion:
🔆Markets are awaiting Fed Chairman Powell’s testimony in the next hour and the Fed is expected to take a hawkish stance. This signals increased dollar strength, so gold is likely to fall in the short term
🔆Note: Prioritize assessing the potential risks of tariffs on inflation and then monetary policy.
Plan:
🔆Price Zone Setup:
👉Sell Gold 2899 -2901
❌SL: 2908 | ✅TP: 2892 - 2886 – 29880
👉Buy Gold 2858 -2860
❌SL: 2852 | ✅TP: 2865 - 2870 – 2875
