XAUUSD → Maintain position, wait for price increase momentum

Moon-Traderfx Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
World gold price stood at 1,925 USD/ounce, inching up slightly by 2 USD/ounce compared to the same hour yesterday morning. The precious metal price remains neutral after many unfavorable information. Many experts believe that recent price action proves that investors are taking a more cautious stance to protect themselves from recession.

The fact that gold maintains a solid support level above 1,900 USD/ounce amid surrounding difficulties is a good sign that the market is ready for a new uptrend when the trend reverses. Expect investment demand for gold to increase as investors realize the value it creates for investment portfolios.
Gold is doing very well, despite Mr. Powell's hawkish views. The risks that the economy will break down are rising and eventually bad news for the economy will boost safe-haven flows to gold.
For nearly a month, gold has fluctuated back and forth between $1,900/ounce and $1,950/ounce. This range should remain in place for at least a few more weeks.
Retail investors clearly expressed their view that gold prices will increase sharply in the near future. Many opinions have been expressed that the gold price will trade around 1,936 USD/ounce, 12 USD higher than predicted last week.
🕯 BUY GOLD |  1912 - 1914

🔴 SL: 1908

🟢 TP1: 1920
🟢 TP2: 1925
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Running +20pip✅✅✅
Gold is in a consolidation phase after prices failed to sustain above $1,930/ounce last week. In addition, this expert also added that bullion could be further pressured towards the important psychological level of 1,900 USD/ounce, if the Fed raises interest rates.
After the FOMC event, FED data clearly shows that DXY is very healthy
So the time after that GOLD decreased + Stock decreased because the money flow moved to DXY so its decline was high.
Money is King, USD is King
Initial resistance is expected to be around 1,850 USD/ounce. The perception that higher inflation means higher interest rates makes non-interest-bearing metals somewhat worse off. If as predicted, gold will slide to 1,840 USD/ounce.

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