XAUUSD Gold : Launch to space? Or 1890 retest? 22.4
Updated
Jerome Powell, chairman of the FED yesterday basically confirmed a May rate hike.
But ask yourself seriously - Is inflation going to go away due to this? Will this save a bleeding economy?
Gold practically called the bluff on FED's comments AND the rising bond yields.
As you can see, post FED meeting we have the Gold keep the support trend-line since the start of the year.
Since breaking above the consolidation breakout , circled on the chart, Gold spiked up by about $70 , it is normal for a technical correction down to take place at such scenario, as we see with the price action now.
If the week closes above 1935-37 , which is the support trend-line since Jan 2022, the bull trend is kept and a new high will be in sight.
**A weekly close today below 1937-35 will confirm potential downside 1890 - Although this scenario is less likely, it is still technically possible.
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If you found my idea helpful, please like and follow :D
I'll be posting daily Gold, WTI, BTC, Nasdaq, EURUSD and more with a special focus on WTI and Gold.
Thank you for the time to read and I'm always happy to hear suggestions about what you guys want to see more of and any questions of course :D
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But ask yourself seriously - Is inflation going to go away due to this? Will this save a bleeding economy?
Gold practically called the bluff on FED's comments AND the rising bond yields.
As you can see, post FED meeting we have the Gold keep the support trend-line since the start of the year.
Since breaking above the consolidation breakout , circled on the chart, Gold spiked up by about $70 , it is normal for a technical correction down to take place at such scenario, as we see with the price action now.
If the week closes above 1935-37 , which is the support trend-line since Jan 2022, the bull trend is kept and a new high will be in sight.
**A weekly close today below 1937-35 will confirm potential downside 1890 - Although this scenario is less likely, it is still technically possible.
-------------------------------------------------------------------------------------------------------------------------------
If you found my idea helpful, please like and follow :D
I'll be posting daily Gold, WTI, BTC, Nasdaq, EURUSD and more with a special focus on WTI and Gold.
Thank you for the time to read and I'm always happy to hear suggestions about what you guys want to see more of and any questions of course :D
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Trade active
1890 is reached! Good momentum up displayed so far from support. Who's taking advantage? What do you guys think? :)
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