30/05 - Gold struggles, wait for the recovery of strength
The US dollar is gradually recovering. The market is facing fear when the news that the Fed will continue to raise interest rates appears.
Gold price has broken out of a volatile contraction pattern and is predicted to produce a vertical drop.
A daily close below the 100-day support is needed to continue the correction to the March 17 low of $1918. Deeper decline could challenge the $1,900 level.
The latest new resistance was formed at the polar region $1942-$1945. $1933-$1935 has been broken, zone $1920 will be retested.
We will wait for the next CB data news and price reaction to see the market next day.
XAUUSD
I'm waiting to buy 1926-1929
Stop Loss 1919
My own expected return is 1932-1938-1945
How about you?
NOTE: Always put TP, SL to keep your account safe and win the market!
Gold price has broken out of a volatile contraction pattern and is predicted to produce a vertical drop.
A daily close below the 100-day support is needed to continue the correction to the March 17 low of $1918. Deeper decline could challenge the $1,900 level.
The latest new resistance was formed at the polar region $1942-$1945. $1933-$1935 has been broken, zone $1920 will be retested.
We will wait for the next CB data news and price reaction to see the market next day.
XAUUSD
I'm waiting to buy 1926-1929
Stop Loss 1919
My own expected return is 1932-1938-1945
How about you?
NOTE: Always put TP, SL to keep your account safe and win the market!
Comment:
Do you think gold will retest 192x today?
