Gold Analysis December 20

3 hari lalu

⭐️Fundamental Analysis
Gold prices maintained a buying bias in the first half of the European session on Friday amid prevailing risk-off sentiment. Amid persistent geopolitical risks and trade war concerns, the threat of a US government shutdown prompted some safe-haven flows into bullion. C

The Federal Reserve's hawkish signal that it will slow the pace of rate cuts in 2025 acted as a driver for US bond yields and favored USD bulls. Traders now look to the US Personal Consumption Expenditures (PCE) price index, which could influence the USD price dynamics and act as a driver for gold prices in the US session.

⭐️Technical Analysis
Gold rebounded from 2587. This zone became a resistance zone but is no longer too strong if the selling pressure is strong. The important zone at the moment is around 2607. When this zone breaks before the middle of the European session, the target of 2622 will be where SELL signals can be considered. If the US session breaks this zone, we have two possible resistance zones, the first SEL around 2633-2635 and when this zone breaks, we must aim for 2658-2660. If it fails to break 2607, set SELL to 2555.

⭐️Trading signals
SELL GOLD zone 2622-2624 Stoloss 2627
SELL GOLD zone 2633-2635 Stoploss 2638
BUY GOLD zone 2656-2654 Stoploss 2651
BUY Scalp 2692-2690 Stoploss 2687