XAUUSD-Gold found in 1952 was just an accident
Updated
Gold price today continued to maintain a downtrend and traded around 1925 usd/ounce.
It can be seen that last night, the USD had a hot session again, causing gold to come under downward pressure and hit its lowest level in the past week.
In the near future, the gold price may drop further to the threshold of 1,900 USD/ounce when the USD is still rising. If on September 13, the US announces that the August inflation index fell exactly or lower than the forecast of 3.2%, gold will continue to face difficulties.
Trading plan:
XAUUSD Sell zone 1933 - 1935
SL 1939
TP 1915
It can be seen that last night, the USD had a hot session again, causing gold to come under downward pressure and hit its lowest level in the past week.
In the near future, the gold price may drop further to the threshold of 1,900 USD/ounce when the USD is still rising. If on September 13, the US announces that the August inflation index fell exactly or lower than the forecast of 3.2%, gold will continue to face difficulties.
Trading plan:
XAUUSD Sell zone 1933 - 1935
SL 1939
TP 1915
Note
Great gold is coming to our entry point. Are you ready to make profits with me?Note
Gold Price seesaws within a key trading range despite the previous day’s heavy loss. Fears of economic slowdown in Beijing contradict US soft landing chatters and weigh on the Gold Price. US ISM Services PMI, Fed talks eyed for fresh impulseNote
Following a quiet Asian session, Gold price retreated to the $1,920 area in the second half of the day. Following the upbeat ISM Services PMI data from the US, the 10-year US Treasury bond yield rose toward 4.3%, causing XAU/USD to push lower.Note
gold went absolutely right according to my analysis. Gold's rise in 1952 was truly an accident. Now gold has continued its downward trend and is gradually reaching 198xNote
The hawkish sentiment surrounding the Fed's upcoming September meeting policy decision continues to support US Treasury rates. This increases investor confidence in the US dollar (USD). The 10-year US bond yield increased to 4.28%, an increase of 0.05 percentage points as of the time of writing. The US Dollar Index (DXY), which measures the value of the greenback against six other major currencies, is hovering around 104.80.Additionally, the US ISM Services PMI rose to a six-month high of 54.5 in August. While the S&P Global Services Composite and PMI fell to 50.2 and 50.5 . It is worth noting that moderate US data helped strengthen the dollar.
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I will come up with a strategy tomorrowNote
Really like I said. Gold rising was just an accident. Now gold has really returned to 1900Note
Mars wishes you a happy and happy evening with relatives and family on the weekend. Today, will you withdraw your profits to go on a relaxing trip with your loved ones and family? have a nice weekend
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