Fundamental Overview
The price of gold, measured in XAU/USD, has fallen for three consecutive days, indicating a bearish trend after a two-week respite. The US Dollar is holding its ground due to mixed feelings. The possibility of the US debt ceiling expiring, along with a drop in US bank deposits, could contribute to the bearish trend. However, optimism from US policymakers and hopes of recovery in Chinese inflation challenge the decline. Upcoming economic indicators and a speech by Federal Reserve Chairman Jerome Powell will be important to watch for any changes in the gold price.
predict gold back to downtrend
Plan trade in the intro :D
The price of gold, measured in XAU/USD, has fallen for three consecutive days, indicating a bearish trend after a two-week respite. The US Dollar is holding its ground due to mixed feelings. The possibility of the US debt ceiling expiring, along with a drop in US bank deposits, could contribute to the bearish trend. However, optimism from US policymakers and hopes of recovery in Chinese inflation challenge the decline. Upcoming economic indicators and a speech by Federal Reserve Chairman Jerome Powell will be important to watch for any changes in the gold price.
predict gold back to downtrend
Plan trade in the intro :D
Trade active
Trade active
Note
RunningTrade closed: stop reached
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.
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.