Xausud Sales Strategy TARGET 100 PIPSDear traders!
Overall, after gold updated its new ATH at 2450 USD, gold experienced a pullback to 2375 USD. Break of previous previous consolidation above $2400. Amid slowing inflation, Fed officials kept a cautious stance on interest rate policy and extended the duration of interest rate cuts longer. Gold prices have begun to experience downward pressure.
From now until the end of the month, it is likely that gold will continue to decline further because gold investors are still subject to a lot of US economic data being released.
Today's trading strategy is "sell when the price tests the previous liquidity zone". Fibonacci 0.618 also points to a pullback of gold at 2398 USD. The downtrend could strengthen further if it receives strong selling pressure from this level. The least expected target on the chart is the 2315 USD area.