New week GOLD - Is the 1900 target still far away?
The outlook for gold is becoming more negative due to a few reasons, including US interest payments gaining momentum and a recent payrolls report indicating a strong economy.
The strength of the economy and labor market could slow down usage and bring it back to the 2.0% target, which may require the FOMC to increase the closing rate and keep it high for a longer period of time to maintain price stability.
Despite attempts by the bulls to maintain mid-term gains, there is a possibility that the trend could shift negatively if the price falls below $1,940, encouraging those who are making excellent progress to attack the $1,900 target.
Before that happens, I anticipate that gold will undergo a short-term test of the 1965 and 1975 areas, enabling us to develop a sound selling strategy.
The strength of the economy and labor market could slow down usage and bring it back to the 2.0% target, which may require the FOMC to increase the closing rate and keep it high for a longer period of time to maintain price stability.
Despite attempts by the bulls to maintain mid-term gains, there is a possibility that the trend could shift negatively if the price falls below $1,940, encouraging those who are making excellent progress to attack the $1,900 target.
Before that happens, I anticipate that gold will undergo a short-term test of the 1965 and 1975 areas, enabling us to develop a sound selling strategy.
Catatan
Traders. What price do you think Gold will reach today?Trade aktif
1939 => 1946 runningTrade aktif
1961 now ✅✅✅Trade aktif
Catatan
Waiting for sell orders from 1963 to 1950
Trade aktif
Gold 1966 => 1954
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.