🔔🔔🔔 Gold news:
➡️ Gold prices pulled back to $3,440 from nearly $3,500—a new record high—in early European trading on Tuesday, as buyers took a breather amid short-term overbought conditions. However, any significant correction appears unlikely due to the ongoing collapse of the U.S. dollar.
➡️ While afraid of a U.S. recession triggered by the U.S.-China trade war has not been enough to dent investor confidence, U.S. President Donald Trump's accelerated criticism of Federal Reserve Chair Jerome Powell since last Friday has further pressured the already weak dollar. This has boosted gold, a traditional safe-haven asset priced in USD.
Personal opinion:
➡️ Gold's uptrend is still strong, this correction period could be the time to buy gold at a good price
➡️ Analysis based on important resistance - support zones and Fibonacci combined with EMA and trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 3433 - 3435
❌SL: 3427 | ✅TP: 3439 - 3444-3450
👉Sell Gold 3500 - 3502 (Scalping)
❌SL: 3506 | ✅TP: 3495 - 3490 -3485
👉Sell Gold 3518 - 3520
❌SL: 3524 | ✅TP: 3513 - 3507 -3500
FM wishes you a successful trading day 💰💰💰
➡️ Gold prices pulled back to $3,440 from nearly $3,500—a new record high—in early European trading on Tuesday, as buyers took a breather amid short-term overbought conditions. However, any significant correction appears unlikely due to the ongoing collapse of the U.S. dollar.
➡️ While afraid of a U.S. recession triggered by the U.S.-China trade war has not been enough to dent investor confidence, U.S. President Donald Trump's accelerated criticism of Federal Reserve Chair Jerome Powell since last Friday has further pressured the already weak dollar. This has boosted gold, a traditional safe-haven asset priced in USD.
Personal opinion:
➡️ Gold's uptrend is still strong, this correction period could be the time to buy gold at a good price
➡️ Analysis based on important resistance - support zones and Fibonacci combined with EMA and trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 3433 - 3435
❌SL: 3427 | ✅TP: 3439 - 3444-3450
👉Sell Gold 3500 - 3502 (Scalping)
❌SL: 3506 | ✅TP: 3495 - 3490 -3485
👉Sell Gold 3518 - 3520
❌SL: 3524 | ✅TP: 3513 - 3507 -3500
FM wishes you a successful trading day 💰💰💰
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Related publications
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.