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GOLD 03/7 - 7/7: Expected bullish recoveryIn the past week, central banks have indicated their intention to tighten monetary policy, leading to a drop in gold prices below $1900. Despite the possibility of an interest rate hike and a decrease in demand for physical gold, the US economy has shown signs of solid recovery with positive GDP growth in Q1 and continued consumer demand driving GDP growth. From a technical standpoint, last Friday's retracement suggests a possible rebound in gold prices, offering hope for a recovery. For this week, I plan to place short-term Buy orders. To start, I will wait for the price zone between $1915 and $1912 to be retested. Once that happens, I will make a purchase with a target of $1930 and $1940 for this week. Additionally, if the market reacts at these levels, I will also consider setting up Scalp orders at $1930 and $1940.
OANDA:XAUUSDLong
by DNA_TradingFX
9
GOLD 28/6 - Can the bulls hold the $1900 mark?The US Dollar experienced significant gains towards the end of last week as the Federal Reserve adjusted its perception of the interest rate trajectory. The reaction of Treasury yields will play a crucial role in determining the outcome. If they surpass the inflation rates priced in by the market, real yields may increase slightly, potentially leading to a decline in gold prices. Although there seems to be a double bottom pattern forming for gold at the H4 timeframe, confirmation of this pattern requires the market to break through the resistance level at $1932. Once this barrier is breached, the short-term target for gold would be $1950. We will be monitoring the resistance level at the H4 EMA 34 for a potential selling opportunity. SELL GOLD zone at: $1926 - $1928 - $ SL $1934 (It is best to carefully review the FOMC news before entering the order) SELL GOLD zone at: $1942 - $1945 SL $1953 Based on technical analysis indicators EMA 34, EMA 89 with strong resistance zone $1940 - $1943
OANDA:XAUUSDShort
by DNA_TradingFX
23
GOLD will return to its bullish momentumGold prices steadied in a tight range on Tuesday as optimism that the US central bank won't raise interest rates this month kept the dollar under pressure. The dollar index fell 0.1%, making gold a more favorable option for foreign investors. Yields on 10-year Treasuries also fell after weaker US services data on Monday. Lower interest rates tend to lift the price of gold because it lowers the opportunity cost of holding non-yielding assets. Gold is approaching the H4-frame EMA at 1968 and there will be a price reaction here. In the short term, I expect Gold to return around the 1950 price range to establish a buy order.
OANDA:XAUUSDLong
by DNA_TradingFX
3