🔔🔔🔔Gold news:
🔆Trump imposed tariffs on Canada, Mexico and China. Soon after, Canada and China followed suit with the US. This raised the risk of a global trade war and hurt investor sentiment, which sees gold as a safe haven.
🔆The Institute for Supply Management (ISM) manufacturing PMI fell to 50.3 in February from 50.9 the previous month, while the Prices Paid Index jumped to its highest level in nearly three years on concerns about import tariffs.
🔆This has observers worried that Trump's trade tariffs will weaken consumer spending and add to concerns about a weakening outlook for the world's largest economy. This could provide further support to the XAU/USD pair.
🔆US 10-year bond yield fell 1.53% during the day
👉These are the main reasons why Gold increased sharply in the European - American session today and reached a 4-day high of 2927
Personal opinion:
🔆Gold will continue its upward trend in the coming time.
🔆Technically, in the US session, Gold reached its highest level and showed signs of retesting at the 2895 area, then it could bounce back to the main trend
🔆RSI (1H) started to decrease after entering the overbought zone
👉So consider buying at a lower price to maximize profits
Analysis:
Based on important resistance - support and Fibonacci levels combined with EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉BUY Gold 2895 - 2897
❌SL: 2890 | ✅TP: 2903 – 2908 –2920
FM wishes you a successful trading day 💰💰💰
🔆Trump imposed tariffs on Canada, Mexico and China. Soon after, Canada and China followed suit with the US. This raised the risk of a global trade war and hurt investor sentiment, which sees gold as a safe haven.
🔆The Institute for Supply Management (ISM) manufacturing PMI fell to 50.3 in February from 50.9 the previous month, while the Prices Paid Index jumped to its highest level in nearly three years on concerns about import tariffs.
🔆This has observers worried that Trump's trade tariffs will weaken consumer spending and add to concerns about a weakening outlook for the world's largest economy. This could provide further support to the XAU/USD pair.
🔆US 10-year bond yield fell 1.53% during the day
👉These are the main reasons why Gold increased sharply in the European - American session today and reached a 4-day high of 2927
Personal opinion:
🔆Gold will continue its upward trend in the coming time.
🔆Technically, in the US session, Gold reached its highest level and showed signs of retesting at the 2895 area, then it could bounce back to the main trend
🔆RSI (1H) started to decrease after entering the overbought zone
👉So consider buying at a lower price to maximize profits
Analysis:
Based on important resistance - support and Fibonacci levels combined with EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉BUY Gold 2895 - 2897
❌SL: 2890 | ✅TP: 2903 – 2908 –2920
FM wishes you a successful trading day 💰💰💰
Trade active
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Disclaimer
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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.