The most critical thing this week is the Federal Reserve's interest rate decision to be announced on Wednesday. This rate cut is likely to be 25 basis points, and it is also likely to be the last rate cut, because Powell has previously stated that a strong economy means that the Federal Reserve does not need to "rush" to cut interest rates. This statement makes the market's pace of rate cuts confusing, making it difficult to judge the rise and fall of gold.
For the current gold, this week will inevitably see a pattern of ups and downs.
From the gold 4H chart, the gold price fell below multiple lower supports last week, and gold has officially entered the bear market.
But the upcoming rate cut will also increase the rebound of bulls, so we try to be more stable in our operations
Today I will wait for the gold price to come to the upper resistance or lower support area before trading
The upper resistance is around 2680
The lower support is around 2620
For the current gold, this week will inevitably see a pattern of ups and downs.
From the gold 4H chart, the gold price fell below multiple lower supports last week, and gold has officially entered the bear market.
But the upcoming rate cut will also increase the rebound of bulls, so we try to be more stable in our operations
Today I will wait for the gold price to come to the upper resistance or lower support area before trading
The upper resistance is around 2680
The lower support is around 2620
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🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
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.
📣More detailed real-time trading strategies will be released in the channel, welcome to join and get them
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
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.