Gold is under pressure from fundamental observation
DISCLAIMER : ON
The gold price has regained strength after bouncing off the important support in the range 1810 - 1805. Entering the US nonfarm payroll news, the gold price is trying to climb again to test the block 1 resistance around 1842 - 1835.
we see gold will weaken again in the future because our main focus is how the impact of Powell's main target to raise interest rates to make market in bearish direction.
trading plan
> sell in the first block ( 1842 - 1835 ) Target profit 1810 / 1793. stop loss : -10 / -15
> sell in the second block ( 1866 - 1854 ) target profit 1810 / 1793. stop loss : -10 / -15
major economic calendar
> us non-farm payroll
The gold price has regained strength after bouncing off the important support in the range 1810 - 1805. Entering the US nonfarm payroll news, the gold price is trying to climb again to test the block 1 resistance around 1842 - 1835.
we see gold will weaken again in the future because our main focus is how the impact of Powell's main target to raise interest rates to make market in bearish direction.
trading plan
> sell in the first block ( 1842 - 1835 ) Target profit 1810 / 1793. stop loss : -10 / -15
> sell in the second block ( 1866 - 1854 ) target profit 1810 / 1793. stop loss : -10 / -15
major economic calendar
> us non-farm payroll
Trade closed: stop reached
Comment:
impact of bankrupt svb.