After an impressive uprise, Gold pulled back below 2000 USD mark and currently remains there.
Fed is notig that given the resiliance of the inflation, the interest rates should continue to rise, until the inflation is in acceptable levels.
The rise of the value of the dollar had put some pressure on the yellow metal, taking it out of the bullish range that was formed in March.
The two indicators, MACD and RSI, are both confirming the reversal, with RSI below the 50 neutral line and MACD's histogram below 0.
If the current trend continues, the price might test levels of 1955 and 1920. In the opposite scenario, the price might reaches back levels of 2070.
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Fed is notig that given the resiliance of the inflation, the interest rates should continue to rise, until the inflation is in acceptable levels.
The rise of the value of the dollar had put some pressure on the yellow metal, taking it out of the bullish range that was formed in March.
The two indicators, MACD and RSI, are both confirming the reversal, with RSI below the 50 neutral line and MACD's histogram below 0.
If the current trend continues, the price might test levels of 1955 and 1920. In the opposite scenario, the price might reaches back levels of 2070.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.