True to yesterday's forecast, the price of gold continues its descent into a deep pit.
Public expenditure in the US is currently at a record level, and the budget deficit is also very high. As a result, inflation will be high and will force interest rates to rise. The Federal Reserve (Fed) has signaled that it will continue to raise interest rates and maintain them for a long time. Currently, the federal fund rate (FFR) is at its highest level in 22 years: 5.25% - 5.5%. The Fed may raise interest rates once again in November.
For this reason, market sentiment seems to be pushing traders to sell gold in large quantities, causing the metal to continue its downward trend. It is currently at $1818, the lowest level since slipping from $1900.
Plan
Buy GOLD when price break out 1828
Public expenditure in the US is currently at a record level, and the budget deficit is also very high. As a result, inflation will be high and will force interest rates to rise. The Federal Reserve (Fed) has signaled that it will continue to raise interest rates and maintain them for a long time. Currently, the federal fund rate (FFR) is at its highest level in 22 years: 5.25% - 5.5%. The Fed may raise interest rates once again in November.
For this reason, market sentiment seems to be pushing traders to sell gold in large quantities, causing the metal to continue its downward trend. It is currently at $1818, the lowest level since slipping from $1900.
Plan
Buy GOLD when price break out 1828
Note
Gold is fluctuating within the 1818-1822 price rangeNote
Plan SELL + 100 pips in new strategyNote
Note
gold stiill not recover and sideway nowNote
Looking forward to a recovery during the nonfarm periodNote
update my new strategy
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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.