Growing expectations that the Federal Reserve will end its tightening cycle after next week's monetary policy decision is providing new momentum for the gold market as prices test another important resistance points.
Gold prices have pushed to a seven-week high, with August gold futures currently trading at $1,979 an ounce, up 1.2% on the day. According to some market analysts, this could be the start of a new push to $2,000 an ounce.
Gold prices have pushed to a seven-week high, with August gold futures currently trading at $1,979 an ounce, up 1.2% on the day. According to some market analysts, this could be the start of a new push to $2,000 an ounce.
Trade active:
⭐️SELL Runnings + 80pips 💲💲💲
Comment:
🐾 BUY XAUUSD zone 1981 - 1978
⚠ Stop Loss : 1973
💲 Take Profit 1: 1990
💲 Take Profit 2: 1995
⚠ Stop Loss : 1973
💲 Take Profit 1: 1990
💲 Take Profit 2: 1995
Comment:
In technical terms, gold futures speculators have a short-term technical advantage as prices are in a new uptrend on the daily chart. Their next price target is to close the August futures contract above a strong resistance level at $2,000. On the other hand, bears' short-term price target is to push the futures contract below a solid technical support level at $1,900. The first resistance levels seen overnight were at $1,989 and then $2,000. The first support levels seen on Wednesday were at $1,973 and then Tuesday's low at $1,958.
Comment:
🐾 BUY XAUUSD zone 1959 - 1962
⚠ Stop Loss : 1956
💲 Take Profit 1: 1970
💲 Take Profit 2: 1980
⚠ Stop Loss : 1956
💲 Take Profit 1: 1970
💲 Take Profit 2: 1980
Trade active:
⭐️BUY Runnings + 30pips 💲💲💲
⚠ Stop Loss : 1995
💲 Take Profit 1: 1975
💲 Take Profit 2: 1965