Current price range of GOLD
Updated
⚡️Market news
Gold continues to stabilize and accumulate after the US Dollar experiences some downward adjustments. However, due to the high bond yields in the United States, the Dollar still has room to maintain its high level, limiting the potential for gold price increases.
The US service sector also slowed down in September, with new orders dropping to a nine-month low. Despite this, the pace still aligns with expectations for positive economic growth in the third quarter.
Currently, investors' main concern is the release of non-farm payroll data on Friday, which will provide clearer clues about the Fed's interest rate trajectory.
⚡️Optimus's point of view
On the daily chart, gold has had two days of narrow range movement - sideways consolidation, hovering around the important technical level of $1,825.
Although gold's price decline has slowed down, there are no signals indicating a significant price increase in the near future. The Relative Strength Index (RSI) is currently in oversold territory and does not generate any significant bullish momentum on the technical chart. This suggests that gold is lacking buying momentum and the bearish side may regain dominance.
⚡️Plan trading
BUY GOLD 1918-1920
SL 1915
TP 1930
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Gold continues to stabilize and accumulate after the US Dollar experiences some downward adjustments. However, due to the high bond yields in the United States, the Dollar still has room to maintain its high level, limiting the potential for gold price increases.
The US service sector also slowed down in September, with new orders dropping to a nine-month low. Despite this, the pace still aligns with expectations for positive economic growth in the third quarter.
Currently, investors' main concern is the release of non-farm payroll data on Friday, which will provide clearer clues about the Fed's interest rate trajectory.
⚡️Optimus's point of view
On the daily chart, gold has had two days of narrow range movement - sideways consolidation, hovering around the important technical level of $1,825.
Although gold's price decline has slowed down, there are no signals indicating a significant price increase in the near future. The Relative Strength Index (RSI) is currently in oversold territory and does not generate any significant bullish momentum on the technical chart. This suggests that gold is lacking buying momentum and the bearish side may regain dominance.
⚡️Plan trading
BUY GOLD 1918-1920
SL 1915
TP 1930
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Trade active
ACtive plan BUYTrade closed: target reached
+ 40 pips for plan buy 1918-1920Note
The price is correct according to analysis, waiting for gold to break out in tomorrow's trading sessionNote
wating gold break outNote
The 1831 resistance zone has been broken, an uptrend has been formedNote
update new strategy
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.