XAUUSD: Strategy for predicting gold price today
Updated
Gold prices (XAU/USD) struggled to capitalize on modest intraday gains and retreated to the lower end of the day's trading range during the first half of the European session on Wednesday. The US Dollar (USD) attracted some buying activity and traded above a one-week high reached the previous day amid doubts about the Federal Reserve's ability to cut interest rates soon ( Fed). This is underpinned by a further rise in US Treasury yields, which, in turn, is seen as a key factor acting as a headwind for the non-yielding yellow metal.
Note
XAUUSD SELL 2044 - 2046TP1: 2038
TP2: 2033
SL: 2060
Note
runing + 35pip
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