XAUUSD 28/06: Where does Gold go after Fed Speaks?

XAUUSD The US dollar benefited from a fresh rise in US Treasury yields, sending gold prices plunging.
Amid increased hawkish sentiment around the Fed rate outlook, all eyes will be on Fed Chair Jerome Powell's speech later Wednesday.

The 14-day Relative Strength Index (RSI), suggesting that gold's downside risks remain.
So, the nearest support is at $1,908, a breakout of which will open exchanges towards $1,900. Going further, $1,886 will be the limit for Gold buyers (March 15 low).

On the other hand, a strong resistance is seen near the $1930 area, above which $1944. The next relevant upside target is seen at the psychological $1950 level.


You might consider Selling gold around 1943 – 1940
And my goal will be 1933 – 1920

You might consider Buying gold around 1902 – 1905
And my goal will be 1908 – 1922


Note: Fully install TP, SL to prioritize safety in trading and conquering the market.

Comment:

US President Joe Biden said Tuesday, June 27, that the US economy is "strong at the moment" and that he does not expect a recession, a day before he delivers an economic policy speech in Chicago.

Trade active:

PLAN BUY +100PIPS

Comment:

The Fed's bank stress test overlooks the scenarios that brought down three regional lenders earlier this year.