Gold analysis week 59

Optimuss2 Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
⚡️Market news
A series of policy makers from the US Federal Reserve (Fed) continue to support the case for raising interest rates further as inflation remains 'too high'. As a result, caution prevails while bond yields in the US continue to bolster the prospects of the Fed's hawkish stance.
Investors are also limiting large bets on major currency pairs as well as gold prices, positioning themselves ahead of inflationary pressures from both the US and the Eurozone. The business activity data from China is also eagerly awaited to assess whether or not the world's second largest economy is regaining momentum.

⚡️Optimus's point of view
Gold is fluctuating in the 1920-1940 price range this past week. marking a slight recovery of precious metals after a series of deep declines.
The possibility of gold rising again this week is possible when CPI and GDP numbers are not supporting the dollar.
Can gold make a break through the 1930-1940 price range to form an uptrend?
Important resistance zone 1938-1940
Important support zone in 1913-1915

⚡️Plan trading
At two important resistance and support points, you can set up a BUY or SELL signal with a large number of vol to bring you profit.

Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Trade active:
Sorry traders. Optimus would like to update the title of the article to "GOLD analysis week 39"
The price of gold (XAU/USD) fluctuates as uncertainty surrounding the Federal Reserve's interest rate outlook deepens. The upward movement of the precious metal remains limited as Fed policymakers continue to maintain a hawkish stance for upcoming monetary policy meetings.
Trade active:
Activate the BUY gold strategy
Price is at entry. Let's win the market together
Gold has followed our secondary plan. The first priority is to wait for gold to test on the 1905-1907 trendline and we can immediately implement the gold SELL strategy.
Gold's retest is possible during the US trading session

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