Gold price returns to trendline and increases
Scalping XAU : 18 Feb, 2025
Gold News:
🔆Federal Reserve Board of Governors member Michelle Bowman stated that elevated asset prices might have slowed inflation progress and emphasized the need for greater confidence in declining inflation before considering rate cuts. She also noted that wage growth remains above levels aligned with the Fed’s inflation target.
Meanwhile, fellow Board member Christopher Waller remarked that inflation improvement last year was frustratingly slow and suggested that rate cuts would be appropriate in 2025 if inflation follows a similar trend as in 2024. Waller anticipates continued disinflation and expects rate reductions to resume on a yearly basis.
🔆Meanwhile, the outcome of discussions between the Kremlin and Washington is expected to be the main market driver, particularly as US traders return after a long weekend. If the negotiations fail, increased risk aversion could boost demand for Gold as a safe-haven asset, potentially driving its price higher alongside the US Dollar.
Personal Opinion:
🔆Uptrend, recovery confirmed when price breaks out of resistance 2905, if price returns to trendline, BUY signal can be taken
Analysis:
🔆Based on important Resistance - Support zones and 200 EMA combined with consideration based on political developments, trendline M45
Plan:
🔆Price Zone Setup:
👉BUY Gold 2906 - 2903
❌SL: 2898 | ✅TP: 2912 - 2918 – 2925
FM wishes you a successful trading day 💰💰💰
Gold News:
🔆Federal Reserve Board of Governors member Michelle Bowman stated that elevated asset prices might have slowed inflation progress and emphasized the need for greater confidence in declining inflation before considering rate cuts. She also noted that wage growth remains above levels aligned with the Fed’s inflation target.
Meanwhile, fellow Board member Christopher Waller remarked that inflation improvement last year was frustratingly slow and suggested that rate cuts would be appropriate in 2025 if inflation follows a similar trend as in 2024. Waller anticipates continued disinflation and expects rate reductions to resume on a yearly basis.
🔆Meanwhile, the outcome of discussions between the Kremlin and Washington is expected to be the main market driver, particularly as US traders return after a long weekend. If the negotiations fail, increased risk aversion could boost demand for Gold as a safe-haven asset, potentially driving its price higher alongside the US Dollar.
Personal Opinion:
🔆Uptrend, recovery confirmed when price breaks out of resistance 2905, if price returns to trendline, BUY signal can be taken
Analysis:
🔆Based on important Resistance - Support zones and 200 EMA combined with consideration based on political developments, trendline M45
Plan:
🔆Price Zone Setup:
👉BUY Gold 2906 - 2903
❌SL: 2898 | ✅TP: 2912 - 2918 – 2925
FM wishes you a successful trading day 💰💰💰
Trade closed: target reached
Achieve the initial goal, FM wishes you successful trading.
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Join now !!!!
Channel: signals - knowledge and FOREX comments
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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.