Gold prices remain under pressure as retail traders raise prices

Bullish Golden Cross formed between the 20- and 50-day Moving Averages in late July. Since then, however, upside progress has been lacking and this has been undermining the crossover.

Clearing lower would increasingly offer a bearish technical bias that would converge with the IGCS signal. The latter is also closely aligned with lows from June. Confirming a breakout under here may open a revisit of the March low.

تعليق:

🐾 SELL XAUUSD zone 1950 - 1952

⚠️ Stop Loss : 1957

💲 Take Profit 1: 1947
💲Take Profit 2: 1942
💲 Take Profit 3: 1935

🐾 BUY XAUUSD zone 1926 - 1924 (scalping)

⚠️ Stop Loss : 1919

💲 Take Profit 1: 1931
💲Take Profit 2: 1937
💲 Take Profit 3: 1945

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تعليق:

The Federal Reserve governor, Bowman, believes that the Fed needs to increase interest rates to bring inflation below the target of 2%. Gold prices have been negatively affected by recent increasing tensions between Russia and the UK, as well as the continued rise of the DXY index. Recent economic data from the US has impacted the future expected interest rates of the Fed. A weaker USD may lead to a gold price recovery, but it would require a catalyst such as the important CPI index happening tomorrow evening.

تعليق:

🐾 SELL XAUUSD zone 1937 - 1939

⚠️ Stop Loss : 1943

💲 Take Profit 1: 1932
💲 Take Profit 2: 1927
💲 Take Profit 3: 1920

تعليق:

Stocks rose Thursday after a key inflation reading showed slightly less year-over-year inflation growth than expected.
🟢The Dow Jones Industrial Average advanced 337 points, or 1%.
🟢The S&P 500 climbed 0.9%, and the Nasdaq Composite rose 1.1%.