Gold has triggered a new downtrend??
Updated
The US debt ceiling issue seems to be improving as President Joe Bidden and House Speaker Kevin McCarthy have both confirmed that there will be no default.
However, the markets are waiting for more clarity as there has been little response so far.
The US Dollar has been gaining momentum and may affect the price of precious metals.
On the other hand, if XAU/USD falls below $1,975, it may reach this month's low of $1,950, and further losses may occur if it drops below $1,920, which is the lower limit of an ascending channel since September 2020.
SELL GOLD zone 1972 - 1975
Stoploss: 1980
Take Profit 1: 1967
Take Profit 2: 1963
Take Profit 3: 1950
Note : TP, SL full to be safe and win the market !
However, the markets are waiting for more clarity as there has been little response so far.
The US Dollar has been gaining momentum and may affect the price of precious metals.
On the other hand, if XAU/USD falls below $1,975, it may reach this month's low of $1,950, and further losses may occur if it drops below $1,920, which is the lower limit of an ascending channel since September 2020.
SELL GOLD zone 1972 - 1975
Stoploss: 1980
Take Profit 1: 1967
Take Profit 2: 1963
Take Profit 3: 1950
Note : TP, SL full to be safe and win the market !
Note
BUY GOLD zone 1950 - 1952 (scalping)Stoploss: 1945
Take Profit 1: 1955
Take Profit 2: 1960
Take Profit 3: 1965
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.