Gold continues to increase the price strongly
Hello everyone ! Yesterday, gold experienced a significant price increase and is currently trading at $1940, up approximately 0.08% from the previous day's trading session.
Reasons supporting the rise in gold:
- Firstly, after the retail sales report yesterday, investors are concerned that the Federal Reserve (Fed) may raise interest rates further, leading to a stronger US dollar and potentially impacting economic growth.
- Secondly, political tensions in the Middle East continue to escalate and intensify.
Result:
- The trend of buying gold as a safe haven for investors continues to increase, with gold experiencing a strong surge and showing no signs of slowing down.
Expected gold prices in the near future:
- Recently, there have been indications that the Federal Reserve may not raise interest rates in its upcoming meeting at the end of this month. This is also a factor driving gold prices higher.
- The market will be influenced by today's news and an important speech by the Fed chairman on October 19th.
Technical analysis:
Gold continues to trade above both the EMA lines, with the EMA 34 signaling a bullish trend in the upcoming period. The price is approaching the $1950 mark, with the next target being $1970 if the market situation continues to follow this development momentum.
GOOD LUCK TO YOU !
Reasons supporting the rise in gold:
- Firstly, after the retail sales report yesterday, investors are concerned that the Federal Reserve (Fed) may raise interest rates further, leading to a stronger US dollar and potentially impacting economic growth.
- Secondly, political tensions in the Middle East continue to escalate and intensify.
Result:
- The trend of buying gold as a safe haven for investors continues to increase, with gold experiencing a strong surge and showing no signs of slowing down.
Expected gold prices in the near future:
- Recently, there have been indications that the Federal Reserve may not raise interest rates in its upcoming meeting at the end of this month. This is also a factor driving gold prices higher.
- The market will be influenced by today's news and an important speech by the Fed chairman on October 19th.
Technical analysis:
Gold continues to trade above both the EMA lines, with the EMA 34 signaling a bullish trend in the upcoming period. The price is approaching the $1950 mark, with the next target being $1970 if the market situation continues to follow this development momentum.
GOOD LUCK TO YOU !
Trade active
Comment:
Comment:
Gold reached the $ 1950 resistance as expected
Comment:
Support levels: $1,938, $1,926, $1,912.
Resistance levels: $1,962, $1,978, $1,987.
Resistance levels: $1,962, $1,978, $1,987.
Comment:
Trade closed: target reached
