Gold seems to be approaching its trendline for the third time, suggesting a potential downward trajectory towards 2225. However, in light of today's market uncertainty and the upcoming ISM news release, it's crucial to proceed with caution. While the technicals point to a possible entry opportunity, we'll remain vigilant and await a clearer signal once the market stabilizes post-news. Managing risk is paramount in such volatile conditions, and we'll be closely monitoring for favorable entry points to capitalize on potential opportunities."
--- Hello guys this is my first analyse please give your ideas on this, Like comment and follow thanks for your support.
Trade closed: target reached
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Gold continues its rise and is close to achieving a new record high
Gold prices are moving globally during trading today, Tuesday, near a record high level recorded in the previous session, with the dollar and Treasury bond yields holding steady after strong US data raised doubts about whether the US Federal Reserve will make three interest rate cuts this year.
“Gold hit a new record price, although this rally came amid overbought conditions, leading to a slight pullback,” said Tim Waterer, senior market analyst at KCM Trade. “However, the recent declines in gold were minimal in nature due to waiting Potential buyers on the margin to enter.
Congratulations and well done for sharing your first idea with the community. Hope you will be having great experience. Thanks for your contribution. From mod @Bravetotrade
MrCharlie1
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@Bravetotrade, thanks for compliment and hope always get your support dear.
Hope you will be having great experience.
Thanks for your contribution.
From mod @Bravetotrade