XAUUSD - Gold trend, morning trading strategy 7/20
The charts have recently turned bullish for the precious metal, which is causing technical speculators to enter long positions. According to some market analysts, this could be the start of a new bull run that will take gold to $2,000 an ounce.
The upbeat outlook comes as gold prices test key jet resistance at $1,980 an ounce and could make a fresh push back towards $2,000 an ounce if the Fed announces that it's done. increase rate to go to the week.
Gold prices can certainly progress towards $2,000/oz if economic data continues to create conditions for the Fed to stop raising interest rates after this July hike.
However, the expert also warned that if the Fed does not act as expected by the market, the price of gold could explode to about $ 1,900/oz.
The upbeat outlook comes as gold prices test key jet resistance at $1,980 an ounce and could make a fresh push back towards $2,000 an ounce if the Fed announces that it's done. increase rate to go to the week.
Gold prices can certainly progress towards $2,000/oz if economic data continues to create conditions for the Fed to stop raising interest rates after this July hike.
However, the expert also warned that if the Fed does not act as expected by the market, the price of gold could explode to about $ 1,900/oz.
Comment:
BUY LIMIT 1968 - 1970
Take Profit: 1978
SL: 1962
Take Profit: 1978
SL: 1962
Take Profit: 1980
SL: 1998