GOLD 26/6: Gold will have a comeback compared to last week
Gold prices started the week on a positive note and looks set to bounce slightly on Friday from the $1,910 region, or the lowest since March 16. XAU/USD trades around the $1,927 region. , is up nearly 0.35% on the day, despite lack of follow-up and remains well below the 100-day Simple Moving Average (SMA) throughout the Asian session.
The US Dollar (USD) is having a hard time capitalizing on the recovery move seen over the past two days, from the lowest since May 11 and meeting some supply on Monday in the US Treasury yields fell slightly. This, coupled with worries about the ripple effect from the aborted mutiny in Russia, has somewhat supported the safe-haven gold price.
From a technical perspective, any further upside move is more likely to attract new sellers and sustain limits near the 100-day SMA, currently pegged around the $1942-$1943 area.
The US Dollar (USD) is having a hard time capitalizing on the recovery move seen over the past two days, from the lowest since May 11 and meeting some supply on Monday in the US Treasury yields fell slightly. This, coupled with worries about the ripple effect from the aborted mutiny in Russia, has somewhat supported the safe-haven gold price.
From a technical perspective, any further upside move is more likely to attract new sellers and sustain limits near the 100-day SMA, currently pegged around the $1942-$1943 area.
Comment:
The aforementioned barrier should play a role as a pivotal point, which, if articulatedly cleared, could trigger a term offset rally. After that, Gold price could accelerate momentum towards the $1,962-$1,964 area. Under this rule is the $1,970-$1,972 resistance area and the $1,983-$1,985 barrier, which, if cleared, will allow XAU/USD to break through the psychological $2,000 and climb to $2,010-$2,012.
Comment:
⭐️Make a trading plan:
✅Sell order in the $1,938-$1,941 price zone when the support zone is approached.
✖️Stoploss: $1,945.
✅Buy order in the $1,910-$1,912 range when the price hits the resistance area.
✖️Stoploss: $1,905.
✅Sell order in the $1,938-$1,941 price zone when the support zone is approached.
✖️Stoploss: $1,945.
✅Buy order in the $1,910-$1,912 range when the price hits the resistance area.
✖️Stoploss: $1,905.
Comment:
it is possible that gold will have a comeback
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.
