Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
GOLD: establishing a higher base?
2020-06-01 • Updated
The gold price has been rising since the middle of last week. Fueled by the US-China tensions, it comes to test the resistance of $1,750. This level marks the upper border of the channel in which the price has spent most of the last two months. Breaking it and eventually doing the same to $1,765 would mean that finally, gold is planning to establish a new baseline level. Will that happen this week? Very possibly. For that, let's watch the news and the response of the gold price around the mentioned key resistance levels.
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Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...