Reason For Bullish
1. Stochastic Oversold and tends to Bullish
2. RSI 14 above 50 which Uptrend in 1H
3. Breaked Resis 2019 and retesting Now for Bullish
Overall Possible Outcomes
XAUUSD BUY @ 2021.90
Copper falls below $4 amid slowing global production. The outlook for the yellow metal remains hazy, especially with US interest rates set to remain higher in longer time this year.
While gold is expected to benefit from the Fed's final rate cut next year, it is expected to receive limited support in the near-term.
BUY GOLD zone 1932 - 1929
Stop Loss :...
Gold 25/07 There are many disadvantages ahead.
Gold's outlook is also uncertain as US interest rates are likely to stay higher for longer. The US has not escaped the recession, the fate of the economy is still in the hands of the Fed.
BUY GOLD zone 1945 - 1947
Stop Loss : 1940
Take Profit 1: 1950
Take Profit 2: 1955
Take Profit 3: 1965
Note: Installing TP SL...
Gold prices established a new level of support amid persistent dollar weakness, while copper fell sharply on worries about importers.
The yellow metal traded close to a one-month high, tracking the dollar's slide to 15-month lows after a series of weak U.S. inflation indicators fueled fish stocks. bet that the Federal Reserve is about to hit its highest interest...
Now, the focus is entirely on the minutes of the Fed's June meeting, for any further signals on the direction of US interest rates.
This trend indicates that gold will come under more pressure in the coming months, although expectations of a potential recession in the US have also boosted some safe-haven demand for the yellow metal.
Gold is waiting for a break...
My idea about USDCAD is this due to the recent statements of Goldman Sachs about USA hidden - upcoming recession plus JP Morgan has the same forecast.
Moreover, I see a structure of rejection from the resistance indicating huge orderblocks + a form of LH and LL as I depict with the arrows and trendlines. So, I will enter short in case of break...