Gold (XAU/USD) price is currently consolidating after a rejection from the $2000 in May 2023. After closing May with a 1.35% loss, the bulls are trying to orchestrate a strong rebound. The price is retesting a key trendline, and a breakdown will be extremely bearish.
In the coming days, I expect the Gold price to remain very volatile due to the next week’s FOMC meeting. Ahead of this key interest rate decision, the May 2023 CPI data is also be released which will reveal the inflation stats for the last month.
In one of the major developments in XAU/USD, the pair has dropped below $1930 for the first time since March 2023. This has confirmed the breakdown of the uptrend that started in November 2022. This breakdown has also put a retest of the $1,850 level, where lies the 0.5 Fob retracement zone.
Presence at we can into 1 command Buy short time.
XAUUSD BUY 1908 - 1910 💯💯
✅ TP1: 1918
✅ TP2: 1925
✅ TP3: 1930
🛑 SL: 1900
In the coming days, I expect the Gold price to remain very volatile due to the next week’s FOMC meeting. Ahead of this key interest rate decision, the May 2023 CPI data is also be released which will reveal the inflation stats for the last month.
In one of the major developments in XAU/USD, the pair has dropped below $1930 for the first time since March 2023. This has confirmed the breakdown of the uptrend that started in November 2022. This breakdown has also put a retest of the $1,850 level, where lies the 0.5 Fob retracement zone.
Presence at we can into 1 command Buy short time.
XAUUSD BUY 1908 - 1910 💯💯
✅ TP1: 1918
✅ TP2: 1925
✅ TP3: 1930
🛑 SL: 1900
Comment:
+60Pips ✅
Comment:
+80Pips Hit TP 1 ✅✅✅
