Gold is burning with the weekend transaction
Hello dear friends!
The trading week is coming to an end, and how has your trading been? Karina hopes that everything you're doing is going well!
Now, here are some analyses from Karina about today's market.
Regarding the information impacting gold:
- Conflict in the Middle East
- Speech by the Fed Chairman on the 19th/20th
The results of the information:
- The ongoing and escalating conflict in the Middle East has led traders and investors to seek safe-haven assets like gold, causing a significant increase in gold prices.
- Federal Reserve Chairman Jerome Powell expressed support for stable interest rates in his speech on Thursday and reduces pressure on gold prices.
From the technical analysis chart:
- Gold is trading at its highest price in two weeks, reaching a trading level of $1990. The two main resistance levels at $1945 and $1980 have been easily surpassed.
- The upcoming target price is $2018, but it is necessary to check for a lower level confirmation to establish a high peak. Additionally, the price is moving away from the EMA zone, and when trading too far from the EMA, it tends to return to the previous range of activity.
Therefore, according to Karina, the price will increase in the coming week with a small price decrease that serves as an adjustment before officially forming an upward trend. Karina emphasizes a price level of $2050.
What about you? What are your targets and thoughts on gold?
The trading week is coming to an end, and how has your trading been? Karina hopes that everything you're doing is going well!
Now, here are some analyses from Karina about today's market.
Regarding the information impacting gold:
- Conflict in the Middle East
- Speech by the Fed Chairman on the 19th/20th
The results of the information:
- The ongoing and escalating conflict in the Middle East has led traders and investors to seek safe-haven assets like gold, causing a significant increase in gold prices.
- Federal Reserve Chairman Jerome Powell expressed support for stable interest rates in his speech on Thursday and reduces pressure on gold prices.
From the technical analysis chart:
- Gold is trading at its highest price in two weeks, reaching a trading level of $1990. The two main resistance levels at $1945 and $1980 have been easily surpassed.
- The upcoming target price is $2018, but it is necessary to check for a lower level confirmation to establish a high peak. Additionally, the price is moving away from the EMA zone, and when trading too far from the EMA, it tends to return to the previous range of activity.
Therefore, according to Karina, the price will increase in the coming week with a small price decrease that serves as an adjustment before officially forming an upward trend. Karina emphasizes a price level of $2050.
What about you? What are your targets and thoughts on gold?
Comment:
Edit : - Speech by the Fed Chairman on the 19/10
Comment:
