GOLD - Long-term trading strategy on July 26
Precious metal prices are still stubbornly clinging, holding the important position of 1,950 USD/ounce while waiting for information from the meeting of the US Federal Reserve (Fed). The Fed meeting will begin on July 25 and end on July 26 (US time). Financial markets are betting close to 100% that the Fed will raise rates by 0.25 percentage points at this meeting.
Limiting analysis, gold price increased again today when the US Federal Reserve (FED) started its monetary policy meeting.
Accordingly, the market believes that the FED will increase the profit margin by 0.25 percentage points, encouraging further cooling down. Financial investors will closely scrutinize the statement of Fed Chairman - Mr. Jerome Powell at the press conference on the morning of June 27, to find new clues about the main currency in the future.
Meanwhile, the European Central Bank (ECB) will meet on May 27 and may decide to raise interest rates by 0.25%.
Limiting analysis, gold price increased again today when the US Federal Reserve (FED) started its monetary policy meeting.
Accordingly, the market believes that the FED will increase the profit margin by 0.25 percentage points, encouraging further cooling down. Financial investors will closely scrutinize the statement of Fed Chairman - Mr. Jerome Powell at the press conference on the morning of June 27, to find new clues about the main currency in the future.
Meanwhile, the European Central Bank (ECB) will meet on May 27 and may decide to raise interest rates by 0.25%.
✔️ TP1: 1962
✔️ TP2: 1968
✔️ TP3: 1974
❌ SL: 1945