Gold prices ( XAU/USD ) cut their intraday losses near $1,955 amid early Monday morning in Europe. In doing so, the bright metal recovers from one-week lows marked earlier in the day as traders reassess challenges starting the week to initial sentiment in favor of the dollar. U.S. dollar.
US Dollar Index (DXY) retreats from intraday highs of 103.05 to 102.90 as early day risk aversion fades amid hawkish bets on Federal Reserve (Fed) ) decrease. Also challenging the greenback's measure against six major currencies are concerns that China and Brazil depreciate the US dollar for cross-border trade.
According to the latest CME FedWatch Instrument figures, market players place a near 42% probability of the Fed raising rates by 0.25% in May, compared with 52% marked on Friday.
Trading recommendation:
SELL GOLD 1990 - 1991
Stop Loss : 1995
Take profit 1:1980
Take Profit 2: 1975
Take profit 3:1970
BUY GOLD 1961 - 1963
Stop Loss : 1958
Take profit1 :1968
Take Profit 2:1972
Take profit 3: 1980
Note: Always install Stoploss and Takeprofit to ensure safety in trading
US Dollar Index (DXY) retreats from intraday highs of 103.05 to 102.90 as early day risk aversion fades amid hawkish bets on Federal Reserve (Fed) ) decrease. Also challenging the greenback's measure against six major currencies are concerns that China and Brazil depreciate the US dollar for cross-border trade.
According to the latest CME FedWatch Instrument figures, market players place a near 42% probability of the Fed raising rates by 0.25% in May, compared with 52% marked on Friday.
Trading recommendation:
SELL GOLD 1990 - 1991
Stop Loss : 1995
Take profit 1:1980
Take Profit 2: 1975
Take profit 3:1970
BUY GOLD 1961 - 1963
Stop Loss : 1958
Take profit1 :1968
Take Profit 2:1972
Take profit 3: 1980
Note: Always install Stoploss and Takeprofit to ensure safety in trading
