Gold prices remain on the defensive at key technical levels, under pressure around recent multi-day lows.
Gold continues to trade around the critical $1900 resistance area but can't break it
The main trend throughout the time frame is still a downtrend so the Sell strategy will still be preferred
However, we should only invest for short term, because it is very likely that Gold will increase in price as it has accumulated for a long time below this 1900USD area.
Gold continues to trade around the critical $1900 resistance area but can't break it
The main trend throughout the time frame is still a downtrend so the Sell strategy will still be preferred
However, we should only invest for short term, because it is very likely that Gold will increase in price as it has accumulated for a long time below this 1900USD area.
Note
Gold had another day of losses yesterday as the USD remained strong after some disappointing China economic indicators stoked concerns about global growth, boosting haven demand. into the greenback.Especially the US retail data released yesterday was also very impressive. US consumers still show resilience even in the face of high interest rates, and those continued strengths are likely to boost the USD
Note
Resilient US fundamentals appear to have rekindled the narrative around a longer-term tighter stance from the Federal Reserve.In fact, beyond the risk appetite bias, the dollar could face additional headwinds due to its data-dependent stance from the Fed amid continued deflation and cooling of the labor market. current motion.
Note
SELL SCALP XAUUSD 1907 - 1909SL: 1912
TP1 : 1900
TP2 : 1890
Note
tp 2 joint 170pip
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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.