GOLD: Bearish Movement May Resume Again
Bloomberg reported that Canada is not open to lifting tariffs until the US takes them down.
Yesterday President Trump and Trudeau had scheduled to speak.
As Reuters reported - U.S. President Donald Trump will exempt automakers from his punishing 25% tariffs on Canada and Mexico for one month as long as they comply with existing free trade rules, the White House said on Wednesday, a development that halted at least for now Wall Street's steepest skid in nearly three months.
If that is true, they could likely find a deal that can be extended beyond April 2nd. That could bring new hope for a pause in the trade war and could support gold moving lower as the situation calms down each day.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Bloomberg reported that Canada is not open to lifting tariffs until the US takes them down.
Yesterday President Trump and Trudeau had scheduled to speak.
As Reuters reported - U.S. President Donald Trump will exempt automakers from his punishing 25% tariffs on Canada and Mexico for one month as long as they comply with existing free trade rules, the White House said on Wednesday, a development that halted at least for now Wall Street's steepest skid in nearly three months.
If that is true, they could likely find a deal that can be extended beyond April 2nd. That could bring new hope for a pause in the trade war and could support gold moving lower as the situation calms down each day.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade active
Gold continues to develop further based on our previous analysis. The price has encountered a strong support zone at $2,930, which has repeatedly pushed the price down. Despite the DXY being notably weak during the previous week and the USD also exhibiting weakness, gold has not risen.
Given these circumstances, I believe that gold might initiate a bearish movement from this zone, despite the risks involved. It is holding steady in this zone even when there were multiple reasons for it to rise further. Any potential rise may be due to market manipulation rather than news-driven factors.
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.