XAUUSD - 21/8 trading strategy, sell gold
World gold price this morning tended to increase with spot gold increasing by 1.2 USD, so with last week's closing session, it was 1,891.6 USD/ounce.
Last weekend, marked the 3rd consecutive week of sharp decline. Expectations that the US Federal Reserve (Fed) will maintain high interest rates for a long time reacted heavily to this precious metal.
Talking about the price movements this week, analysts expect the market to rest as investors await the expression of Fed Chairman Jerome Powell at the annual Jackson Hole symposium.
While recent economic data has not provided much information on the health of the economy, a growing number of economists are expecting that Mr. Powell will adopt a more dovish tone even as he has said that the central bank offsetting to make its choices and decisions still depend on the data.
Last weekend, marked the 3rd consecutive week of sharp decline. Expectations that the US Federal Reserve (Fed) will maintain high interest rates for a long time reacted heavily to this precious metal.
Talking about the price movements this week, analysts expect the market to rest as investors await the expression of Fed Chairman Jerome Powell at the annual Jackson Hole symposium.
While recent economic data has not provided much information on the health of the economy, a growing number of economists are expecting that Mr. Powell will adopt a more dovish tone even as he has said that the central bank offsetting to make its choices and decisions still depend on the data.
Comment:
HIT TP1 +120Pips ✅✅
✅ TP1: 1890
✅ TP2: 1884
⚠️ SL: 1901