All indicator shows the overbought signal , and dollar index breaks the resistance and Powell said that they will keep raising interest rates , so that will push dollar index up and gold ( xauusd ) down . What do you think trader ?
All indicator shows the overbought signal , and dollar index breaks the resistance and Powell said that they will keep raising interest rates , so that will push dollar index up and gold (xauusd) down . What do you think trader ?
Tuesday was as I expected , The Gold Metal breaks the support zone I have made , Rsi shows the oversold volume on the 4 hours timeframe , so for me tomorrow will be positive for the gold , so the fed powrell speech will affect negatively dollar index and push the gold metal up
Two Weeks Ago , Federal Reserve has confirmed that they will continue incresing the interest rate progressively , sso that will affect the metal gold to go down deeper and deeper , and all technical’s indicators confirm this . What do you thing so ?
After All Analysis , I conclude that the gold next week will be on bearish mode , Rsi is on top for the 4 hours timeframe chart , and the economic calendar is normal this week nothing to reveal
So many rejections have the gold made this week and attend 1804 , so next point for me is 1819 if he breaks it so we can see him around 1800
Gold Now Under Pressure due to the last speech of the Federal Reserve , Better to keep a distance from the market
The metal still following the trend six months higher , CPI released negatively to dollar strenght , that will push the gold up and up , so will it be the golden year ? The US try to low the inflation by rising the interest rate , So that will knockdown the US economy strength and push up the yellow metal .
The metal have just reached the highest point in the last 6 months , and powell speech insisted to keep rising the interest rate if the high inflation keep going up , and all investors are waiting the consumer price index thursday , my opinion they will rise the CPI tomorrow , so the dollar can recover against the six foreign currencies . So no trades till...
Everyone is waiting the Consumer Price Index to get released to see next move , due to the last powell speech he said that the US suffer , so my opinion they will rise the CPI (high inflation) , so It will push dollar to go up and Gold down .
The metal have reached the top point in the last 4 months ,as you can see he didn't correct the way he toped at 1700$ and all news influence the dollar index to go higher , and they try to let people buy more gold and that means oversold , so that will let the metal to go down (my own opinion) .
Due to the last news about gold , increasing the interest rate and with a high inflation that influence to fly the gold up , and as we can see technically it's an uptrend . So will the yellow metal fly again up ? Leave a comment Traders .
Next point can be 1970 for the next week Have a good week :)
China got a problem with covid-19 Russia and Ukraine no breaking news People get annoyed about wars and pandemic Next Point 1880
we know that usa yesterday they forced their people to put on the masks and the number of cases is gradually increasing and this is infecting the american economy and all people are waiting the fed meeting but everything is demonstrated the gold will touch 1700 soon ;)