Challenges faced by GOLD
Updated
Gold hits 3-month low on outsized BoE hike, Fed threat for more
The “central bank-a-palooza saw larger-than-expected tightening across several European central banks,” said Ed Moya, analyst at online trading platform OANDA. “The global growth outlook is getting slashed and that could trigger a safe-haven move back into the dollar and not necessarily gold.”
Fed Chair Jay Powell, testifying before the Senate on Thursday, reinforced expectations that the U.S. central bank will hike rates at least twice more this year.
These things make gold overbought , gold has now touched the 1915-1910 price range . It is likely that Gold will return to the resistance zone
XAUUSD BUY 1913 - 1910 💯💯
✅ TP1: 1916
✅ TP2: 1920
✅ TP3: 1925
🛑 SL: 1907
The “central bank-a-palooza saw larger-than-expected tightening across several European central banks,” said Ed Moya, analyst at online trading platform OANDA. “The global growth outlook is getting slashed and that could trigger a safe-haven move back into the dollar and not necessarily gold.”
Fed Chair Jay Powell, testifying before the Senate on Thursday, reinforced expectations that the U.S. central bank will hike rates at least twice more this year.
These things make gold overbought , gold has now touched the 1915-1910 price range . It is likely that Gold will return to the resistance zone
XAUUSD BUY 1913 - 1910 💯💯✅ TP1: 1916
✅ TP2: 1920
✅ TP3: 1925
🛑 SL: 1907
Note
Hawkish central bank rhetoric and improving risk sentiment weigh on gold.Note
Due to speak at the Summit for a New Global Financing Pact, in Paris;Trade active
Please wait patiently for the brothers
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