The Gold market experienced significant volatility last week as news of the US interest rate pushed prices without any substantial breakthrough. On Wednesday, Gold approached resistance around 1945 and then sharply declined when the Fed announced interest rates. The high USD interest rates will exert strong pressure on the financial market until the end of 2023.
On the D1 technical chart, Gold is still in a downtrend, although the downward momentum is not yet truly strong. The selling side only really came into play after FOMC. The downward trend will continue to be maintained this week.
Trading plan
SELL GOLD 1928-1930
SL 1934
TP 1920
Good luck to everyone
On the D1 technical chart, Gold is still in a downtrend, although the downward momentum is not yet truly strong. The selling side only really came into play after FOMC. The downward trend will continue to be maintained this week.
Trading plan
SELL GOLD 1928-1930
SL 1934
TP 1920
Good luck to everyone
Trade closed: target reached
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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.