Gold prices attracted some buying power for the second straight day on Monday and traded with a slight positive bias during the early European session. XAU/USD is now placed just above $1,930, up nearly 0.60% on the day, though remains well within Friday's wider trading range and below the Simple Moving Average support ( SMA) 100 days.
Additionally, the emergence of some selling activity around the US Dollar (USD) turned out to be another factor that acted as a headwind for XAU/USD.
Additionally, the emergence of some selling activity around the US Dollar (USD) turned out to be another factor that acted as a headwind for XAU/USD.
Comment:
US stocks fell last Friday and throughout the week. Yields on US Treasuries fell on Friday but fluctuated in two directions for the week. The USD index rose both in the Friday session and the whole week.
Trade active:
gold is as sw in short field
Trade active:
Please wait patiently for the entry and the transaction will become smooth and successful
Comment:
The Federal Reserve (Fed) also effectively announced that borrowing costs may still need to rise to 50 basis points by the end of the year. Plus, Fed Chairman Jerome Powell, during his two-day congressional hearing last week, said that the US central bank does not see a rate cut anytime soon and will wait when it is certain. that usage is falling to 2% of the target.
Comment:
⭐️Make a trading plan:
✅Sell the $1,932-$1,935 range when the price hits the resistance area.
✖️Stoploss: $1,940.
✅Sell the $1,932-$1,935 range when the price hits the resistance area.
✖️Stoploss: $1,940.
Comment:
The next entry is to follow the chart closely to make the transaction successful
Comment:
The daily plan is still applicable, everyone
✅Sell the $1,936-$1,939 range when the price hits the resistance area.
✖️Stoploss: $1,945.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!