Gold Spot / U.S. DollarUpdated XAU plummeted without stopping
XAU dropped sharply in the context of investors being cautious before the US announced important information about the economic situation. Money flows betting on the USD as US Federal Reserve (Fed) officials remain hawkish, determined to step up the fight against inflation.
After each statement by a Fed official, the USD strengthens, thereby putting downward pressure on gold prices.
The USD is also supported by efforts to cut interest rates early by many major central banks in the world, including the ECB of Europe and Canada...
Recently, the USD is not only stable at a high level but also tends to increase in price.
After each statement by a Fed official, the USD strengthens, thereby putting downward pressure on gold prices.
The USD is also supported by efforts to cut interest rates early by many major central banks in the world, including the ECB of Europe and Canada...
Recently, the USD is not only stable at a high level but also tends to increase in price.
Note
💵XAUUSD BUY 2298 - 2296 💵✔️ TP 2304
✔️ TP 2310
❌ SL 2290
Note
running + 50 pipsNote
running + 70 pipsNote
RUnning + 20 pips
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Related publications
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.