GOLD - Parallel Channel Trading Discounts

Following the release of discouraging CPI news for the USD, GOLD experienced a significant increase, reaching approximately 1930USD. However, this surge was short-lived as the market quickly absorbed the news and GOLD returned to its previous trading level around 1920USD.

Gold has long been considered a safe haven in times of economic uncertainty, making it an attractive choice for investors during periods of negative economic impact.

Currently, GOLD is still following a parallel downtrend. Therefore, it is prudent to continue monitoring the trend and wait until GOLD reaches the lower trend line along with resistance at $1910 before considering implementing a BUY GOLD strategy.

The target price for this strategy would be set at 1925USD (250PIPs).

Comment:

GOLD +50PIPs