GOLD 26/06: How does gold price start the new week?

XAUUSD Gold's short-term pullback has ended and it is expected to fall back to the intraday low at $1910.00. The Gold sell-off was triggered by the upbeat US Dollar Index DXY.
Gold prices started the week on a solid footing and extended the slide. Growing concerns about a global recession, combined with the hawkish outlook of major central banks, could make it difficult for Gold to generate a decisive recovery in the near term.

Gold price demonstrated a severe decline after breaking of the Descending Triangle, which is a volatile narrowing chart pattern, formed on the H4 time frame.

The precious metal is trading below the EMA at $1960.00, which suggests that the long-term bias is bearish.

The Relative Strength Index RSI is oscillating in a falling range of 20.00-40.00, which shows that bearish momentum has been triggered.


You might consider Buying gold around XAUUSD 1910 – 1913 (scalp)
And my goal will be 1918 – 1923

You might consider Selling gold around XAUUSD 1933 - 1930
And my goal will be 1923 – 1908


Note: Fully install TP, SL to prioritize safety in trading and conquering the market.

Comment:

Bank of America: There are early signs of investors exiting the technology sector.

Comment:

Fed has said that it will continue to raise interest rates to control inflation and this may push many US businesses into default.

Comment:

everything is possible

Comment:

SELL RUNNING +40PIPS

Comment:

We can start round 2

Trade active:

Plan sell +100pips. Entry at 1933 ❤️

Comment:

Hit entry 1923 💚

Trade active:

PLAN BUY COMPLETE! BIG WIN!

PLAN SELL ACTIVITY GOING ON!
+100pips HIT TP1!!!

Comment:

The US economy is now expected to narrowly dodge a recession this year, but underlying inflation will be faster than previously thought, according to a Bloomberg survey.

Comment:

PLAN SELL ROUND 2~~~ START!