XAUUSD - hits resistance, slips
Updated
This morning - My opinion for trading.
> Gold Last night I still hesitated and ran quite slowly around the area from 2049>2052. Gold is currently showing signs of slight decline.
> I will recommend this margin in both directions for everyone to trade.
> Buy around 2048>2050
SL 2046
TP 2056>206x
>Sell Around 2056>2058
SL 2060
TP 2050>204x.
Selling Rhythm Today I will upload a video for you all to follow this comment so you can trade first
Global gold prices rose slightly, with spot gold rising $6.6 to $2,055.3 per ounce. Gold futures traded at $2,059 per ounce, up $7.4 from the previous day.
Global yellow metal posted modest gains in first trade of the week, continued to be boosted by safe-haven demand on concerns over tensions in the Middle East and rising Federal Reserve expectations for the US (Fed) did. It will likely cut interest rates sooner than expected.
A report released last weekend showed that U.S. producer prices unexpectedly fell in December. Based on this data, traders expect the Fed to cut interest rates by 166 basis points (bp) this year, up from the previous 150 basis points (bp). Gold prices are rising, but some analysts say it will take a new catalyst, or at least a clearer indication of the Fed's monetary policy direction, for the precious metal to break out of its current range. There is. in.
David Morrison, senior market analyst at Trade Nation, said gold's position was maintained, but more work needed to be done to attract new investors to the market.
> Gold Last night I still hesitated and ran quite slowly around the area from 2049>2052. Gold is currently showing signs of slight decline.
> I will recommend this margin in both directions for everyone to trade.
> Buy around 2048>2050
SL 2046
TP 2056>206x
>Sell Around 2056>2058
SL 2060
TP 2050>204x.
Selling Rhythm Today I will upload a video for you all to follow this comment so you can trade first
Global gold prices rose slightly, with spot gold rising $6.6 to $2,055.3 per ounce. Gold futures traded at $2,059 per ounce, up $7.4 from the previous day.
Global yellow metal posted modest gains in first trade of the week, continued to be boosted by safe-haven demand on concerns over tensions in the Middle East and rising Federal Reserve expectations for the US (Fed) did. It will likely cut interest rates sooner than expected.
A report released last weekend showed that U.S. producer prices unexpectedly fell in December. Based on this data, traders expect the Fed to cut interest rates by 166 basis points (bp) this year, up from the previous 150 basis points (bp). Gold prices are rising, but some analysts say it will take a new catalyst, or at least a clearer indication of the Fed's monetary policy direction, for the precious metal to break out of its current range. There is. in.
David Morrison, senior market analyst at Trade Nation, said gold's position was maintained, but more work needed to be done to attract new investors to the market.
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