⚡️Market news
The United States Dollar (USD) has entered a phase of consolidation, with prices reaching near six-month highs compared to its major counterparts. This upward momentum is supported by the recent recovery in US Treasury bond yields and widespread risk aversion sentiment.
Traders, who are risk-averse by nature, have been cautious ahead of the Federal Reserve's policy announcement and Chairman Jerome Powell's press conference. All eyes are also on the Fed's updated economic projections, known as the 'Dot Plot', which will be key in assessing whether another interest rate hike is likely. Given these events, traders have been reluctant to place new bets on the US Dollar, resulting in familiar fluctuations in gold prices.
⚡️Optimus's point of view
The retreat of the US Dollar (USD) is an important factor driving Gold prices.
H4 divergence appears, technical indicators point to near overbought levels, with the Momentum indicator at a new monthly high, however, the daily chart suggests a neutral stance.
In the long term, it is possible that the 1938$ - 1940$ area is the area that bulls are targeting as well as the area where sellers are waiting for strong selling. But with a market without news like today, the 1933$ sell zone becomes more suitable for scalping.
⚡️Plan trading
SELL GOLD 1930-1932
SL 1936
TP 1920
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
The United States Dollar (USD) has entered a phase of consolidation, with prices reaching near six-month highs compared to its major counterparts. This upward momentum is supported by the recent recovery in US Treasury bond yields and widespread risk aversion sentiment.
Traders, who are risk-averse by nature, have been cautious ahead of the Federal Reserve's policy announcement and Chairman Jerome Powell's press conference. All eyes are also on the Fed's updated economic projections, known as the 'Dot Plot', which will be key in assessing whether another interest rate hike is likely. Given these events, traders have been reluctant to place new bets on the US Dollar, resulting in familiar fluctuations in gold prices.
⚡️Optimus's point of view
The retreat of the US Dollar (USD) is an important factor driving Gold prices.
H4 divergence appears, technical indicators point to near overbought levels, with the Momentum indicator at a new monthly high, however, the daily chart suggests a neutral stance.
In the long term, it is possible that the 1938$ - 1940$ area is the area that bulls are targeting as well as the area where sellers are waiting for strong selling. But with a market without news like today, the 1933$ sell zone becomes more suitable for scalping.
⚡️Plan trading
SELL GOLD 1930-1932
SL 1936
TP 1920
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Trade active:
Gold has broken out of the price band
Comment:
Comment:
The new strategy was broken
