GOLD fell more than 1%, the bullish structure was threatened

25 июл.

Early in the Asian trading session on July 25, XAUUSD decreased more than 1%, as of the time the article was completed, gold was trading at 2,372USD, equivalent to a decrease of 25Dollar during the day.

Former New York Fed President Dudley (who enjoys perpetual voting rights on the FOMC and is known as “the Federal Reserve's third in command”) wrote: I have long been in the “hold interest” camp. high yield for longer periods of time.
But times have changed and things have changed now so I changed my mind. The Fed should cut interest rates, preferably at its interest rate meeting next week.

Gold traders are now awaiting second-quarter US GDP data today (Thursday), as well as the latest personal consumption expenditures (PCE) price index on Friday, as this is the gauge Fed's preferred inflation.
Reuters quoted sources as saying on Wednesday that the Bank of Japan may discuss whether to raise interest rates at its July 30-31 meeting and announce a plan to nearly halve its bond purchases. votes in the next few years.

Although gold has been supported by news from India which has reduced import duties on gold and silver from 15% to 6%.
But the main reason why gold prices are still being sold off is partly due to profit-taking motivation, and partly because the possibility of Trump's election will support the Dollar. Trump is known as the President with a gay tariff stance. harshly.
The main factor currently supporting gold prices is market expectations that the Federal Reserve may actually decide to cut interest rates before September.

Analysis of technical prospects for XAUUSD
On the daily chart, gold is trading at a very dangerous price position for bullish expectations. As the current price activity falls below most important supports from the trending price channel and the 21-day moving average (EMA21).

Given its current position, gold is still likely to continue to sell off more towards the 0.618% Fibonacci retracement level, which is also the nearest support level. Meanwhile, the Relative Strength Index is pointing down but still quite far from the oversold point, showing that the room for price reduction is still quite comfortable.

Gold can only have enough conditions to increase in price when it surpasses the area of ​​2,400 - 2,390 USD, which is also considered the current pressure area.

During the day, gold has conditions to fall further with notable prices that will be listed again as follows.
Support: 2,362USD
Resistance: 2,385 – 2,390 – 2,400USD

🪙SELL XAUUSD | 2415 - 2413

⚰️SL: 2419

⬆️TP1: 2408
⬆️TP2: 2403

🪙BUY XAUUSD | 2349 - 2351

⚰️SL: 2345

⬆️TP1: 2356
⬆️TP2: 2361

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Заметка

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Заметка

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Заметка

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Заметка

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Заметка

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30 июл.

Заметка

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Заметка

🔻US Consumer Confidence Index Positive and Better Than Expectations Again!

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31 июл.

Заметка

XAUUSD decreased slightly after a significant recovery period, at the Asian trading session on July 31, gold decreased slightly from the Fibonacci level of 0.382% to 2,405USD/oz, equivalent to a decrease of about 0.25% on the day.