Stronger USD (+0.1%), making gold more expensive for holders of other currencies. Higher 10-year bond yields, increasing the opportunity cost of holding gold.
Key Takeaways from the Fed: A 0.25% rate cut is expected on December 18, but the likelihood of further cuts in January 2025 remains low (only 18%).
US Economic Impact: November retail sales exceeded expectations, fueling inflation concerns. This suggests the Fed may pause further rate cuts in January 2025.
Gold is strongly supported by important economic data this week. From a technical perspective, after recent sharp declines, gold has shown signs of reversal from the 2633.xx resistance area, rebounding toward 2650.xx.
Today's Main Trend: Focus on long-term buy opportunities at strong sell points. Use sell scalping strategies and observe reactions to trade more effectively.
INTRADAY TRADING STRATEGY
SELL SCALP: Entry: 2661 - 2663 Stop Loss (SL): 2666 Take Profit (TP): 2655
🔻Simple Trading - Trading is not as difficult as you think.
❗️ DISCLAIMER: The content shared in the training program is designed for educational and informational purposes only, so the program is not a financial advice or a solution.
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