Short Term XAU Trading Strategy
Earlier, gold fell sharply to hit a more than one-week low, pressured by a rebound in the dollar, while investors awaited US non-farm payrolls data to determine the size of the cuts at the US Federal Reserve's September policy meeting.
The dollar hovered near a two-week high, making gold more expensive for holders of other currencies. The market is pricing in a 63% chance of a 25 basis point cut at the Fed's next policy meeting scheduled for September 17-18, according to the CME FedWatch tool.
The dollar hovered near a two-week high, making gold more expensive for holders of other currencies. The market is pricing in a 63% chance of a 25 basis point cut at the Fed's next policy meeting scheduled for September 17-18, according to the CME FedWatch tool.
Note
SELL XAU 2497 - 2500
Tp1: 2490
TP2: 2484
SL: 2505
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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.