Will it break 1900 in the European session?
Updated
On August 14, the world's third largest economy, Japan, announced GDP growth in the second quarter of 2023, with an impressive increase of 6% compared to the same period last year, much higher than the expected level. previously reported is 3.7% and forecast is 3.1%.
Along with positive economic information, the USD continued to strengthen. Specifically, the Dollar-Index - measuring the strength of the USD in a basket of 6 major currencies increased by 0.25% compared to the previous session, to 103,170 points.
When the dollar is strong, investors withdraw capital from gold to reduce deposit costs as well as find profitable investment channels. Therefore, pushing the gold price down deeply, there is no chance to reverse and increase again.
Along with positive economic information, the USD continued to strengthen. Specifically, the Dollar-Index - measuring the strength of the USD in a basket of 6 major currencies increased by 0.25% compared to the previous session, to 103,170 points.
When the dollar is strong, investors withdraw capital from gold to reduce deposit costs as well as find profitable investment channels. Therefore, pushing the gold price down deeply, there is no chance to reverse and increase again.
Note
🕯 SELL GOLD | 1920 - 1917🔴 SL: 1925
🟢 TP1: 1912
🟢 TP2: 1907
🕯 BUY GOLD | 1890 - 1893
🔴 SL: 1885
🟢 TP1: 1898
🟢 TP2: 1903
Trade active
Plan BUY Running + 30pips ✔️✔️✔️Trade active
Close 1/2 + 65pips ✔️✔️✔️ Move SL to Entry 😮Trade closed: target reached
Plan BUY HIT TP1 + 80pips ✔️✔️✔️Note
- Goldman Sachs is planning a hiring joy to fix fading amid Fed sternness.
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