GOLD nudges higher in early trade
Diupdate
US equity and bond markets are closed for the day – US Presidents’ Day holiday – and this will weigh on market activity across a range of asset classes. Activity over the rest of the week should pick up with FOMC minutes, the release of the February PMIs, and chip-giant Nvidia’s earnings all worthy of attention. In addition, a handful of Fed speakers will give their latest thoughts on the economy, and maybe a steer on the future path of US interest rates.
The precious metal is continuing last week’s move despite hotter-than-expected US CPI and PPI data. Market rate-cut expectations continue to be pared back with the first cut now seen at the June meeting with a total of 90 basis points of cuts priced in for this year. In late December, the market forecast the first cut at the March meeting and expected a total of 175 basis points of cuts.
We noted last week that gold was heavily oversold using the CCI indicator – see the story at the top of this article – and this weakness is currently being reversed. A move higher will find initial resistance from the 20-dsma at $2,023/oz. and ta prior level of horizontal resistance, and the 50-dsma around $2,033/oz. Initial support at $2,000/oz. ahead of $1,987/oz.
The precious metal is continuing last week’s move despite hotter-than-expected US CPI and PPI data. Market rate-cut expectations continue to be pared back with the first cut now seen at the June meeting with a total of 90 basis points of cuts priced in for this year. In late December, the market forecast the first cut at the March meeting and expected a total of 175 basis points of cuts.
We noted last week that gold was heavily oversold using the CCI indicator – see the story at the top of this article – and this weakness is currently being reversed. A move higher will find initial resistance from the 20-dsma at $2,023/oz. and ta prior level of horizontal resistance, and the 50-dsma around $2,033/oz. Initial support at $2,000/oz. ahead of $1,987/oz.
Catatan
SELL XAUUSD PRICE 2036 - 2034⚡️ ↠↠ Stoploss 2040
→Take Profit 1 2029
↨
→Take Profit 2 2024
BUY XAUUSD PRICE 2007 - 2009⚡️
↠↠ Stoploss 2003
→Take Profit 1 2014
↨
→Take Profit 2 2019
Catatan
In terms of market trading on Wednesday, spot contracts for gold metal witnessed an increase of 0.19% and reached the level of $2,028.27 per ounce.Catatan
SELL GOLD 2027 - 2025↠ Stoploss 2030
→ Take Profit 1 2020
→ Take Profit 2 2010
Trade aktif
+ 50pips, close a part move SL to entry.🔥Catatan
🔴US Federal Reserve officials expressed concern that high inflation continues to harm families, especially those who have limited means to absorb higher prices.Catatan
Catatan
➡️The Dow Jones Industrial Average gained 225 points, or nearly 1%. Those increases put the major averages on track to snap a three-day losing streak.
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Publikasi terkait
Pernyataan Penyangkalan
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.