Gold prices at the beginning of the trading week increased as the US dollar weakened, resulting in a decrease in the US Dollar Index.
This made gold more appealing to buyers who use other currencies.
Gold has bounced back strongly from the support level of $1,950/ounce due to disappointing economic data.
The May Purchasing Managers' Index (PMI) for the US service sector fell significantly below expectations.
Business activity and new order indices have also decreased.
Bullish gold speculators are being backed by the 50-period Exponential Moving Average (EMA) at $1,959.38, and the Relative Strength Index (RSI) is fluctuating between 40.00-60.00.
I will consider buying gold around 1951-1954, this area will test again
This made gold more appealing to buyers who use other currencies.
Gold has bounced back strongly from the support level of $1,950/ounce due to disappointing economic data.
The May Purchasing Managers' Index (PMI) for the US service sector fell significantly below expectations.
Business activity and new order indices have also decreased.
Bullish gold speculators are being backed by the 50-period Exponential Moving Average (EMA) at $1,959.38, and the Relative Strength Index (RSI) is fluctuating between 40.00-60.00.
I will consider buying gold around 1951-1954, this area will test again
Comment:
The digital currency market faced substantial losses over the past 24 hours, with a total decline of approximately $46 billion in market value.
Comment:
Gold buy 1954 profit 70pips
Comment:
100pips, verry good
