The price of gold is being supported by economic troubles and a weaker US Dollar. Concerns about a global economic downturn are affecting investor sentiment, leading to a generally weaker tone in the stock markets. Additionally, the demand for the US Dollar is subdued, which is also contributing to the support for gold as a safe-haven asset. The USD Index, which tracks the value of the US Dollar against other currencies, is near its monthly low due to uncertainty over the Federal Reserve's rate hike plans.
Gold is fluctuating at $1932, may drop 1 more beat before recovering
Today, order to place a BUY AT:
BUY zone: $1923- $1925 sl $1913
Based on the moving averages EMA 34, EMA 89 , the MACD moving average is close to crossing the signal line, volume divergence is forming.
Gold is fluctuating at $1932, may drop 1 more beat before recovering
Today, order to place a BUY AT:
BUY zone: $1923- $1925 sl $1913
Based on the moving averages EMA 34, EMA 89 , the MACD moving average is close to crossing the signal line, volume divergence is forming.
Trade active:
still waiting to match entry 1925, the market is still sideways in a narrow range
Trade active:
+20 pips , The rebound is forming
Comment:
+ 40 pips ,move sl to entry
