The Gold price is getting a boost from economic troubles and a weaker US Dollar. Concerns about a global economic downturn are affecting investor sentiment and causing the equity markets to be generally weaker. Additionally, there is less demand for the US Dollar, which is helping support the safe-haven Gold price. The USD Index is currently near its monthly low due to uncertainty over the Federal Reserve's rate hike plans.
Gold price on June 23, 23 is falling to the area around $1910
After the news from the Fed, the gold price is negatively affected, the downtrend is dominant. Can set up SHORT at:
SELL GOLD zone : $1926 - $1929, sl 1939
Based on the US economic situation as well as the average technical analysis indicators EMA 34, EMA 89 weak purchasing power
Gold price on June 23, 23 is falling to the area around $1910
After the news from the Fed, the gold price is negatively affected, the downtrend is dominant. Can set up SHORT at:
SELL GOLD zone : $1926 - $1929, sl 1939
Based on the US economic situation as well as the average technical analysis indicators EMA 34, EMA 89 weak purchasing power
Comment:
Right trend , wait for $1925 SELL
Comment:
price is approaching the $1925 resistance area, short at the $1923 - $1925 zone
Trade active:
GOLD now 1920. SELL +90pips
