GOLD is right now trading in a support and resistance range between 1700 and 1740 dollars.
A break above 1750 dollars would be a clear signal for opening a GOLD Long trade.
The TP could be set at 1790 dollars.
The War in Ukraine is going on and GOLD will stay an asset for crisis times like this, but the fed is raising the interest rates with fast steps so we might see people
selling gold for investing into interest rates.
The inflation will probably sink by 2023 and as you know the markets are trading the future so we might already see some effects of that right now.
Also the USD will probably get weaker so the GOLD/USD pair would rise in value.
All these Indicators are maybe a sign of a longer consolidation between these two levels.
Hope you get some nice gains!
A break above 1750 dollars would be a clear signal for opening a GOLD Long trade.
The TP could be set at 1790 dollars.
The War in Ukraine is going on and GOLD will stay an asset for crisis times like this, but the fed is raising the interest rates with fast steps so we might see people
selling gold for investing into interest rates.
The inflation will probably sink by 2023 and as you know the markets are trading the future so we might already see some effects of that right now.
Also the USD will probably get weaker so the GOLD/USD pair would rise in value.
All these Indicators are maybe a sign of a longer consolidation between these two levels.
Hope you get some nice gains!