Gold news:
🔆The US Dollar extends its recovery from an 11-week low, supported by a slight rebound in US Treasury bond yields, which in turn puts some pressure on Gold prices during the Asian session on Thursday.
🔆On Wednesday, US President Donald Trump raised expectations for a potential delay in imposing steep new tariffs on imports from Mexico and Canada, suggesting they might take effect on April 2 instead of the previously set March 4 deadline. However, a White House official clarified that the tariff deadline remains unchanged "as of now," pending Trump's assessment of efforts to curb migrant flows into the US.
🔆Additionally, Trump announced that his administration will soon introduce a 25% tariff on imports from the European Union, adding to market uncertainty, which could provide some support for the safe-haven metal. Nevertheless, Gold prices remain under pressure due to a rebound in US bond yields and a modest strengthening of the US Dollar.
Personal Opinion:
🔆Gold prices are likely to experience a short-term correction as the RSI (1D) has entered overbought territory and is showing signs of divergence.
🔆Concerns over US President Donald Trump's tariff policies and ongoing trade tensions have made bearish traders cautious about confirming a near-term peak for safe-haven gold. Additionally, expectations of further interest rate cuts by the Federal Reserve, driven by a slowing US economy and growth uncertainties, could help limit downside movement for the non-yielding metal. Market participants are now focused on the US economic calendar for Thursday to gain fresh insights.
Technical Analysis:
🔆A strategic approach should be based on resistance-support zones and key Fibonacci retracement levels, in combination with the EMA200, to determine optimal trading decisions.
Plan:
🔆Setting price range:
👉Buy gold 2840 -2843
❌SL: 2834 | ✅TP: 2850 – 2855 – 2865
FM wishes you a successful trading day 💰💰💰
🔆The US Dollar extends its recovery from an 11-week low, supported by a slight rebound in US Treasury bond yields, which in turn puts some pressure on Gold prices during the Asian session on Thursday.
🔆On Wednesday, US President Donald Trump raised expectations for a potential delay in imposing steep new tariffs on imports from Mexico and Canada, suggesting they might take effect on April 2 instead of the previously set March 4 deadline. However, a White House official clarified that the tariff deadline remains unchanged "as of now," pending Trump's assessment of efforts to curb migrant flows into the US.
🔆Additionally, Trump announced that his administration will soon introduce a 25% tariff on imports from the European Union, adding to market uncertainty, which could provide some support for the safe-haven metal. Nevertheless, Gold prices remain under pressure due to a rebound in US bond yields and a modest strengthening of the US Dollar.
Personal Opinion:
🔆Gold prices are likely to experience a short-term correction as the RSI (1D) has entered overbought territory and is showing signs of divergence.
🔆Concerns over US President Donald Trump's tariff policies and ongoing trade tensions have made bearish traders cautious about confirming a near-term peak for safe-haven gold. Additionally, expectations of further interest rate cuts by the Federal Reserve, driven by a slowing US economy and growth uncertainties, could help limit downside movement for the non-yielding metal. Market participants are now focused on the US economic calendar for Thursday to gain fresh insights.
Technical Analysis:
🔆A strategic approach should be based on resistance-support zones and key Fibonacci retracement levels, in combination with the EMA200, to determine optimal trading decisions.
Plan:
🔆Setting price range:
👉Buy gold 2840 -2843
❌SL: 2834 | ✅TP: 2850 – 2855 – 2865
FM wishes you a successful trading day 💰💰💰
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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
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.