Gold today 15.08 under pressure from the dollar
Updated
Gold and copper prices fell to their weakest levels in a month on Monday, coming under pressure from a stronger dollar as rising U.S. inflation pushed up concerns over higher interest rates.
Data from last week showed that U.S. inflation edged higher in July after declining steadily this year, pushing up concerns that the Federal Reserve will be forced into raising interest rates further to curb price pressures.
In the H4 frame, we see the price line is at the end of the downtrend will turn on as soon as it hits demad 1900.
BUY
XAUUSD : 1900 - 1903
S.L : 1890
T.P 1 : 1907
T.P 2 : 1912
T.P 3 : 1920
SELLXAUUSD : 1920 - 1918
S.L : 1925
T.P 1 : 1913
T.P 2 : 1908
T.P 3 : 1900
* Let's win the market together*
Data from last week showed that U.S. inflation edged higher in July after declining steadily this year, pushing up concerns that the Federal Reserve will be forced into raising interest rates further to curb price pressures.
In the H4 frame, we see the price line is at the end of the downtrend will turn on as soon as it hits demad 1900.
BUY
XAUUSD : 1900 - 1903S.L : 1890
T.P 1 : 1907
T.P 2 : 1912
T.P 3 : 1920
SELL
XAUUSD : 1920 - 1918S.L : 1925
T.P 1 : 1913
T.P 2 : 1908
T.P 3 : 1900
* Let's win the market together*
Note
Gold, copper prices hit 1-mth low amid renewed inflation fearsNote
It is very difficult for gold to turn around unless bonds stop selling. If yields continue to extend gains, gold prices could fall further.Note
The dollar index - considered a "health" barometer of the greenback against other major currencies - this session rose to the highest in more than a month.Trade active
The price line is hitting the resistance level of 1900, Do you think the price will recover or resume the downtrend? Let me know in the comments section.Note
Trade active
price is approaching the bottom of the descending triangle , Like my plan
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