Gold news:
🔆The US confirmed that the annualized Q4 Gross Domestic Product (GDP) grew by 2.3% in its second estimate. However, the quarterly Personal Consumption Expenditures (PCE) Prices were revised upwards to 2.4% from the initial 2.3%, while Core PCE Prices saw an even sharper increase to 2.7% from the previous 2.5%.
🔆Meanwhile, Initial Jobless Claims rose significantly to 242K in the week ending February 22, surpassing market expectations of 221K. Durable Goods Orders outperformed forecasts, rising 3.1% in January compared to the anticipated 2%. In contrast, Pending Home Sales dropped by 4.6% in the same month, a much steeper decline than the expected -1.3%.
🔆However, market fears were primarily driven by US President Donald Trump. After initially stating that tariffs on Canada and Mexico would begin in April, he later corrected himself, confirming they would take effect on March 4 as originally planned. Additionally, he announced a new 10% tariff on China starting the same day and revealed that reciprocal tariffs would be implemented on April 2.
🔆Looking ahead, the US is set to release the January PCE Price Index on Friday, which is the Federal Reserve’s preferred inflation measure. Projections suggest a 0.3% monthly increase and a 2.5% rise year-over-year.
Personal opinion:
🔆Gold will continue to decline in the short term, starting to increase in March when Trump's tariff policies are about to take effect.
However, there will be a price increase at the beginning of the Asian session and then a short-term downtrend. After RSI (1H) confirms signs of convergence and the (4H) frame enters the oversold zone
Analysis:
🔆Based on important resistance - support zones and Fibonacci combined with EMA200 to come up with a reasonable strategy
Plan
🔆Price Zone Setup:
👉Buy Gold 2862 – 2860 (Asian and European scalping)
❌SL: 2855 | ✅TP: 2866– 2872 – 2880
👉Sell Gold 2889 – 2892 (Asian and European scalping)
❌SL: 2895 | ✅TP: 2875– 2870 – 2860
👉Sell Gold 2842 – 2840
❌SL: 2977| ✅TP: 2965– 2960 – 2950
FM wishes you a successful trading day đź’°đź’°đź’°
🔆The US confirmed that the annualized Q4 Gross Domestic Product (GDP) grew by 2.3% in its second estimate. However, the quarterly Personal Consumption Expenditures (PCE) Prices were revised upwards to 2.4% from the initial 2.3%, while Core PCE Prices saw an even sharper increase to 2.7% from the previous 2.5%.
🔆Meanwhile, Initial Jobless Claims rose significantly to 242K in the week ending February 22, surpassing market expectations of 221K. Durable Goods Orders outperformed forecasts, rising 3.1% in January compared to the anticipated 2%. In contrast, Pending Home Sales dropped by 4.6% in the same month, a much steeper decline than the expected -1.3%.
🔆However, market fears were primarily driven by US President Donald Trump. After initially stating that tariffs on Canada and Mexico would begin in April, he later corrected himself, confirming they would take effect on March 4 as originally planned. Additionally, he announced a new 10% tariff on China starting the same day and revealed that reciprocal tariffs would be implemented on April 2.
🔆Looking ahead, the US is set to release the January PCE Price Index on Friday, which is the Federal Reserve’s preferred inflation measure. Projections suggest a 0.3% monthly increase and a 2.5% rise year-over-year.
Personal opinion:
🔆Gold will continue to decline in the short term, starting to increase in March when Trump's tariff policies are about to take effect.
However, there will be a price increase at the beginning of the Asian session and then a short-term downtrend. After RSI (1H) confirms signs of convergence and the (4H) frame enters the oversold zone
Analysis:
🔆Based on important resistance - support zones and Fibonacci combined with EMA200 to come up with a reasonable strategy
Plan
🔆Price Zone Setup:
👉Buy Gold 2862 – 2860 (Asian and European scalping)
❌SL: 2855 | ✅TP: 2866– 2872 – 2880
👉Sell Gold 2889 – 2892 (Asian and European scalping)
❌SL: 2895 | ✅TP: 2875– 2870 – 2860
👉Sell Gold 2842 – 2840
❌SL: 2977| ✅TP: 2965– 2960 – 2950
FM wishes you a successful trading day đź’°đź’°đź’°
Trade active
Hit + 50 pips from 2860, The profit you get if you follow FM's plan
congratulations
Trade closed: target reached
Missed 8 pips to enter the order 2942and missed 90 pips profit
unfortunately
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âś… t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
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.