Hello Everyone...
Gold retreated below $2,020 per ounce on Friday, registering a 0.8% gain for the week.
The dip was attributed to a stronger dollar and investors processing statements from Federal Reserve officials.
NY Fed President Williams emphasized that rate cuts weren't currently under discussion, dampening early speculation about a March rate cut.
On Wednesday, the Fed's shifted to a dovish stance and projection of lower interest rates in 2024, with three anticipated rate reductions, followed by a faster-than-expected drop in inflation.
Despite robust US retail sales and decreased weekly jobless claims, rate cut expectations remained largely unchanged.
The European Central Bank and the Bank of England maintained policy rates at elevated levels to address inflation concerns.
GOLD forecast (technically):
the price reversed after the FED result was fixed at 5.5%, with three anticipated rate reductions, followed by a faster-than-expected drop in inflation. so that will be positive for the GOLD
This week GOLD will trade at a Positive momentum as long as it trades above 2007 to the next target located at 2049 and, with stability above 2049 the next station has a target at 2088
By closing 4h candle below 2007, we remain falling to reach 1993 and then 1961 by stabilizing under the trend
Pivot Price: 2017
Resistance Price: 2049 & 2073 & 2088
Support price: 2007 & 1992 & 1961
The movement range will be between 2017 and 2061
Last Weekly Outlook:
Gold retreated below $2,020 per ounce on Friday, registering a 0.8% gain for the week.
The dip was attributed to a stronger dollar and investors processing statements from Federal Reserve officials.
NY Fed President Williams emphasized that rate cuts weren't currently under discussion, dampening early speculation about a March rate cut.
On Wednesday, the Fed's shifted to a dovish stance and projection of lower interest rates in 2024, with three anticipated rate reductions, followed by a faster-than-expected drop in inflation.
Despite robust US retail sales and decreased weekly jobless claims, rate cut expectations remained largely unchanged.
The European Central Bank and the Bank of England maintained policy rates at elevated levels to address inflation concerns.
GOLD forecast (technically):
the price reversed after the FED result was fixed at 5.5%, with three anticipated rate reductions, followed by a faster-than-expected drop in inflation. so that will be positive for the GOLD
This week GOLD will trade at a Positive momentum as long as it trades above 2007 to the next target located at 2049 and, with stability above 2049 the next station has a target at 2088
By closing 4h candle below 2007, we remain falling to reach 1993 and then 1961 by stabilizing under the trend
Pivot Price: 2017
Resistance Price: 2049 & 2073 & 2088
Support price: 2007 & 1992 & 1961
The movement range will be between 2017 and 2061
Last Weekly Outlook:
my free signals channel telegram
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
