🔔🔔🔔Gold news:
➡️ Gold prices ended the week down around 2.50% as improved risk appetite - driven by easing trade tensions and a strong US jobs report - prompted investors to book profits ahead of the weekend.
➡️ Over the weekend, China's Ministry of Commerce said the US was open to trade and tariff talks, reaffirming that Beijing's door to dialogue remains open.
➡️ Bullion prices continued to fall after April's non-farm payrolls unexpectedly rose, beating expectations, while the unemployment rate remained unchanged from March. XAU/USD fell to an intraday low of $3,222 as traders reduced expectations for four rate cuts from just three now.
Personal opinion:
➡️ There is still no strong enough momentum for gold to continue rising and must wait for the upcoming FMOC. Therefore, gold will maintain a short-term downtrend in the beginning of next week
➡️ Note: any information about the US-China trade war is given top priority
➡️ Analysis based on resistance - support levels and trend lines combined with EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 3293 - 3296
❌SL: 3190 | ✅TP: 3200 - 3205 - 3210
👉Sell Gold 3255 - 3258 (Scalping)
❌SL: 3263 | ✅TP: 3251 - 3246 - 3240
FM wishes you a successful trading week 💰💰💰
➡️ Gold prices ended the week down around 2.50% as improved risk appetite - driven by easing trade tensions and a strong US jobs report - prompted investors to book profits ahead of the weekend.
➡️ Over the weekend, China's Ministry of Commerce said the US was open to trade and tariff talks, reaffirming that Beijing's door to dialogue remains open.
➡️ Bullion prices continued to fall after April's non-farm payrolls unexpectedly rose, beating expectations, while the unemployment rate remained unchanged from March. XAU/USD fell to an intraday low of $3,222 as traders reduced expectations for four rate cuts from just three now.
Personal opinion:
➡️ There is still no strong enough momentum for gold to continue rising and must wait for the upcoming FMOC. Therefore, gold will maintain a short-term downtrend in the beginning of next week
➡️ Note: any information about the US-China trade war is given top priority
➡️ Analysis based on resistance - support levels and trend lines combined with EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 3293 - 3296
❌SL: 3190 | ✅TP: 3200 - 3205 - 3210
👉Sell Gold 3255 - 3258 (Scalping)
❌SL: 3263 | ✅TP: 3251 - 3246 - 3240
FM wishes you a successful trading week 💰💰💰
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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
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.