25/05 - Unexpected reversal, continuing the downward trend
Gold prices traded in a tight range of $1,950 to $1,980, after falling below $2,000.
Incoming US Orders data is expected to show a 1.0% decline, versus a 3.2% gain. Gold price is currently slightly above support established in April at $1,949.83.
If the current selling trend continues, the price can move towards stronger support levels at $1945 and $1930. Gold prices are likely to continue to fluctuate in a range with a downtrend until the market reacts to US economic data and announcements from the US Federal Reserve.
The 20 EMA at $1,969.26 is acting as a resistance for the Gold price, thwarting any uptrend. The relative strength index (RSI) (14) has dipped below 40.00 showing that the downside momentum is justified.
XAUUSD
SELL 1968-1971
Stop Loss 1978
My own expected return is 1962-1955-1945
How about you?
NOTE: Always put TP, SL to keep your account safe and win the market!
Incoming US Orders data is expected to show a 1.0% decline, versus a 3.2% gain. Gold price is currently slightly above support established in April at $1,949.83.
If the current selling trend continues, the price can move towards stronger support levels at $1945 and $1930. Gold prices are likely to continue to fluctuate in a range with a downtrend until the market reacts to US economic data and announcements from the US Federal Reserve.
The 20 EMA at $1,969.26 is acting as a resistance for the Gold price, thwarting any uptrend. The relative strength index (RSI) (14) has dipped below 40.00 showing that the downside momentum is justified.
XAUUSD SELL 1968-1971
Stop Loss 1978
My own expected return is 1962-1955-1945
How about you?
NOTE: Always put TP, SL to keep your account safe and win the market!
Nota
Breakout 1950Nota
50pipsNota
the price can move towards stronger support levels at $1945 and $1930 => Price is back to 1945Nota
Gold 1940 => +100pips
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.