Gold news:
🔆Gold prices remain in a bullish consolidation phase just below record highs early Monday. A rebound in US Treasury yields counterbalances the decline in the US dollar, keeping gold within a familiar trading range.
🔆However, the downside for gold is cushioned by broad weakness in the US dollar, driven by the euro’s rally following the German election results.
🔆The precious metal may also find support from growing expectations that the US Federal Reserve (Fed) will implement two interest rate cuts this year. This sentiment was reinforced by the US Composite Flash PMI Output Index, which dropped from 52.7 in January to 50.4, marking a 17-month low. The decline has fueled concerns about the US economic outlook amid trade policy uncertainties and potential inflationary risks.
🔆Looking ahead, investors will focus on the upcoming US-Russia meeting, potential new tariff threats from President Trump, and key US economic data releases this week for fresh direction in gold prices.
Personal opinion:
🔆Gold will maintain the uptrend to retest the old ATH zone of 2955. Then there will be a new ATH level at 2970.
Technical analysis:
🔆Based on support - resistance levels and important Fibonacci levels combined with trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 2919 – 2921
❌SL: 2914 | ✅TP: 2925– 2931 – 2945
👉Buy Gold 2932 – 2929(European session)
❌SL: 2924 | ✅TP: 2937– 2945 – 2954
👉Sell Gold 2969 – 2971
❌SL: 2976| ✅TP: 2965– 2960 – 2950
FM wishes you a successful trading day 💰💰💰
🔆Gold prices remain in a bullish consolidation phase just below record highs early Monday. A rebound in US Treasury yields counterbalances the decline in the US dollar, keeping gold within a familiar trading range.
🔆However, the downside for gold is cushioned by broad weakness in the US dollar, driven by the euro’s rally following the German election results.
🔆The precious metal may also find support from growing expectations that the US Federal Reserve (Fed) will implement two interest rate cuts this year. This sentiment was reinforced by the US Composite Flash PMI Output Index, which dropped from 52.7 in January to 50.4, marking a 17-month low. The decline has fueled concerns about the US economic outlook amid trade policy uncertainties and potential inflationary risks.
🔆Looking ahead, investors will focus on the upcoming US-Russia meeting, potential new tariff threats from President Trump, and key US economic data releases this week for fresh direction in gold prices.
Personal opinion:
🔆Gold will maintain the uptrend to retest the old ATH zone of 2955. Then there will be a new ATH level at 2970.
Technical analysis:
🔆Based on support - resistance levels and important Fibonacci levels combined with trend lines to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 2919 – 2921
❌SL: 2914 | ✅TP: 2925– 2931 – 2945
👉Buy Gold 2932 – 2929(European session)
❌SL: 2924 | ✅TP: 2937– 2945 – 2954
👉Sell Gold 2969 – 2971
❌SL: 2976| ✅TP: 2965– 2960 – 2950
FM wishes you a successful trading day 💰💰💰
Trade active
Gold is on track with FM's plan, consider selling in the price range of 2969 - 2971
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Join now !!!!
Channel: signals - knowledge and FOREX comments
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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.