Gold Shows Short Term Reversal Pattern, Buy or Sell?
🔔🔔🔔Gold News:
🔆The tariff war between the US and its countries is easing with no signs of further escalation.
🔆With trade tensions temporarily easing, attention turns to Friday’s key US Non-Farm Payrolls (NFP) data, which could signal the Fed’s next policy move. The NFP data could emerge as the key market driver for Gold prices
🔆Meanwhile, the US Jobless Claims report will be watched along with Fedspeak for some trading impetus for Gold prices.
🔆In addition, Trump’s plan to end the Israel-Hamas geopolitical conflict also provided a glimmer of hope to the market, reducing the USD’s appeal as a safe haven. Israeli Prime Minister Benjamin Netanyahu and Trump met on Tuesday at the White House and discussed key issues in the Middle East.
Technical Analysis:
🔆RSI (1H) has now moved out of the overbought level and is showing signs of falling.
🔆Head and shoulders pattern is likely to emerge
Commentary:
🔆Gold prices are bearish in the short term and will wait for the news on Unemployment Claims along with the US Fedspeak for more momentum. Continuing to monitor the USD/JPY developments, the Japanese Yen has hit a nearly two-month high against the US Dollar, dragging USD/JPY down sharply. This is a significant resistance level for the Greenback.
Plan:
🔆Price Zone Setup:
👉Buy Gold 2840 -2843 (European session)
❌SL: 2835 | ✅TP: 2849 - 2855 – 2862
👉 Buy Gold 2818 – 2820
❌SL: 2813 | ✅TP: 2825 – 2832 – 2840
👉Sell Gold 2888 -2890
❌SL: 2895 | ✅TP: 2884 - 2878 – 2870
Thank you for reading my comment: "FM"
🔆The tariff war between the US and its countries is easing with no signs of further escalation.
🔆With trade tensions temporarily easing, attention turns to Friday’s key US Non-Farm Payrolls (NFP) data, which could signal the Fed’s next policy move. The NFP data could emerge as the key market driver for Gold prices
🔆Meanwhile, the US Jobless Claims report will be watched along with Fedspeak for some trading impetus for Gold prices.
🔆In addition, Trump’s plan to end the Israel-Hamas geopolitical conflict also provided a glimmer of hope to the market, reducing the USD’s appeal as a safe haven. Israeli Prime Minister Benjamin Netanyahu and Trump met on Tuesday at the White House and discussed key issues in the Middle East.
Technical Analysis:
🔆RSI (1H) has now moved out of the overbought level and is showing signs of falling.
🔆Head and shoulders pattern is likely to emerge
Commentary:
🔆Gold prices are bearish in the short term and will wait for the news on Unemployment Claims along with the US Fedspeak for more momentum. Continuing to monitor the USD/JPY developments, the Japanese Yen has hit a nearly two-month high against the US Dollar, dragging USD/JPY down sharply. This is a significant resistance level for the Greenback.
Plan:
🔆Price Zone Setup:
👉Buy Gold 2840 -2843 (European session)
❌SL: 2835 | ✅TP: 2849 - 2855 – 2862
👉 Buy Gold 2818 – 2820
❌SL: 2813 | ✅TP: 2825 – 2832 – 2840
👉Sell Gold 2888 -2890
❌SL: 2895 | ✅TP: 2884 - 2878 – 2870
Thank you for reading my comment: "FM"
Dagangan aktif
Gold is going according to FM's planDagangan ditutup secara manual
Xau/usd retreated to support and bounced as expected
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.