GOLD Analysis 10/12-12/12
Gold prices rebounded slightly amid investors awaiting a Federal Reserve policy meeting (Fed) as well as information on prolonged trade negotiations between the United States and China.
Observers believe that China and the United States will soon reach a phase 1 agreement in the context of frequent contact and exchange. However, without further notice, there were concerns that the US would impose new tariffs on Chinese goods on December 15.
However, the price of gold increased not much and was still under considerable pressure to reduce prices in the context of the US economy continued to generate positive signals. The world stock markets in the first session of the week gained most after US employment reports. Investors hope the US economy will continue to accelerate.
The dollar fell back after a short time of recovery. The US Dollar Index (DXY), which measures the fluctuation of the greenback with 6 major currencies, stood at 97.60 points, down 0.06%.
Technical analysis
the week we came up with a strategy to sell gold around 1464-1465 and took profit 50pip this morning.Due to the fact that H4 is showing signs of a short-term reversal, we can see on the H4 time frame that the price of GOLD has Tested many times in the 1460 zone and did not break H4 englufing, and should be in the sidebar.
Plan trading
Sell gold 1474-1475 SL 1478 TP 1466 Tp2 1456
Buy GOLD 1453-1454 SL 1450 TP 1468
Observers believe that China and the United States will soon reach a phase 1 agreement in the context of frequent contact and exchange. However, without further notice, there were concerns that the US would impose new tariffs on Chinese goods on December 15.
However, the price of gold increased not much and was still under considerable pressure to reduce prices in the context of the US economy continued to generate positive signals. The world stock markets in the first session of the week gained most after US employment reports. Investors hope the US economy will continue to accelerate.
The dollar fell back after a short time of recovery. The US Dollar Index (DXY), which measures the fluctuation of the greenback with 6 major currencies, stood at 97.60 points, down 0.06%.
Technical analysis
the week we came up with a strategy to sell gold around 1464-1465 and took profit 50pip this morning.Due to the fact that H4 is showing signs of a short-term reversal, we can see on the H4 time frame that the price of GOLD has Tested many times in the 1460 zone and did not break H4 englufing, and should be in the sidebar.
Plan trading
Sell gold 1474-1475 SL 1478 TP 1466 Tp2 1456
Buy GOLD 1453-1454 SL 1450 TP 1468
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