🔔🔔🔔Gold news:
➡️ Gold prices continued their decline during Thursday’s Asian trading session, dropping to $2,120 — marking a new low since April 10. The easing of U.S.-China trade tensions has further reduced safe-haven demand for the precious metal, which is also under pressure from diminishing bets on a Federal Reserve interest rate cut.
➡️ Meanwhile, U.S. Dollar (USD) bulls remain on the sidelines, despite supportive factors, opting to wait for the release of the U.S. Producer Price Index (PPI) and an appearance by Federal Reserve Chair Jerome Powell later today. However, this cautious stance has provided little support for gold prices.
Personal opinion:
➡️ There is still no real clear momentum for gold prices to rise again. Currently, gold prices are recovering after being oversold, watching for technical areas to be able to sell gold at good prices.
➡️ Analysis based on important resistance - support and Fibonacci levels combined with EMA and trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell Gold 3187 - 3190
❌SL: 3194 | ✅TP: 3183 - 3178 – 3173
👉Buy Gold 3113 - 3116
❌SL: 3109| ✅TP: 3120 - 3125 – 3130
FM wishes you a successful trading day 💰💰💰
➡️ Gold prices continued their decline during Thursday’s Asian trading session, dropping to $2,120 — marking a new low since April 10. The easing of U.S.-China trade tensions has further reduced safe-haven demand for the precious metal, which is also under pressure from diminishing bets on a Federal Reserve interest rate cut.
➡️ Meanwhile, U.S. Dollar (USD) bulls remain on the sidelines, despite supportive factors, opting to wait for the release of the U.S. Producer Price Index (PPI) and an appearance by Federal Reserve Chair Jerome Powell later today. However, this cautious stance has provided little support for gold prices.
Personal opinion:
➡️ There is still no real clear momentum for gold prices to rise again. Currently, gold prices are recovering after being oversold, watching for technical areas to be able to sell gold at good prices.
➡️ Analysis based on important resistance - support and Fibonacci levels combined with EMA and trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Sell Gold 3187 - 3190
❌SL: 3194 | ✅TP: 3183 - 3178 – 3173
👉Buy Gold 3113 - 3116
❌SL: 3109| ✅TP: 3120 - 3125 – 3130
FM wishes you a successful trading day 💰💰💰
Trade active
Personal plan:
Hit near + 70 pips from Sell 3187
Great
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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.