🔔🔔🔔Gold news:
•Investors remain concerned that US President Donald Trump's trade tariffs could drive up inflationary pressures, reinforcing the Federal Reserve's hawkish stance and leading to some selling pressure on gold prices on Tuesday.
•Trump's tariffs on Mexico and Canada take effect this Tuesday, along with a new 10% tax on Chinese goods. Additionally, he announced that reciprocal tariffs would be implemented on April 2 against countries that impose duties on US products.
•In response, Canada confirmed plans to introduce retaliatory tariffs on US imports, while China’s Commerce Ministry stated on Tuesday that it would impose additional tariffs of up to 15% on key agricultural products from the US.
•These developments heighten the risk of a global trade war, dampening investor sentiment. However, this uncertainty may support demand for the safe-haven precious metal, helping to cushion gold prices from further losses, especially amid the prevailing bearish outlook for the US Dollar.
Personal opinion:
👉Gold will continue to increase in the coming time after the latest developments on the ongoing trade war between countries
👉However, RSI (1H) has unclear signs of a slight decline, so you can consider buying at a lower price level
Analysis:
👉Based on resistance - support zones combined with important Fibonacci levels to come up with a suitable strategy
🔆Price Zone Setup:
👉Sell Gold 2905 – 2907 (European session)
❌SL: 2912 | ✅TP: 2901 – 2896 – 2990
👉Sell Gold 2918 – 2920
❌SL: 2925 | ✅TP: 2914 – 2910 – 2900
FM wishes you a successful trading day 💰💰💰
•Investors remain concerned that US President Donald Trump's trade tariffs could drive up inflationary pressures, reinforcing the Federal Reserve's hawkish stance and leading to some selling pressure on gold prices on Tuesday.
•Trump's tariffs on Mexico and Canada take effect this Tuesday, along with a new 10% tax on Chinese goods. Additionally, he announced that reciprocal tariffs would be implemented on April 2 against countries that impose duties on US products.
•In response, Canada confirmed plans to introduce retaliatory tariffs on US imports, while China’s Commerce Ministry stated on Tuesday that it would impose additional tariffs of up to 15% on key agricultural products from the US.
•These developments heighten the risk of a global trade war, dampening investor sentiment. However, this uncertainty may support demand for the safe-haven precious metal, helping to cushion gold prices from further losses, especially amid the prevailing bearish outlook for the US Dollar.
Personal opinion:
👉Gold will continue to increase in the coming time after the latest developments on the ongoing trade war between countries
👉However, RSI (1H) has unclear signs of a slight decline, so you can consider buying at a lower price level
Analysis:
👉Based on resistance - support zones combined with important Fibonacci levels to come up with a suitable strategy
🔆Price Zone Setup:
👉Sell Gold 2905 – 2907 (European session)
❌SL: 2912 | ✅TP: 2901 – 2896 – 2990
👉Sell Gold 2918 – 2920
❌SL: 2925 | ✅TP: 2914 – 2910 – 2900
FM wishes you a successful trading day 💰💰💰
Trade active
Hit +70 pips if Sell 2918Trade closed: target reached
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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.