Can Gold Recover From The Price Losses?
Donald Trump's election victory is shaking up the international markets. Gold was also affected, losing drastically in value and slipping well below the USD 2,700 mark.
Now the next big event is approaching with the Fed's decision tomorrow. We are bullish on gold, at least in the short term. The price reacted at a Fibonacci retracement and was able to halt the sell-off, at least for the time being. We assume that the gold price will now recover. Our price target is the lower edge of the very small value area of the entire downward movement to date.
Now the next big event is approaching with the Fed's decision tomorrow. We are bullish on gold, at least in the short term. The price reacted at a Fibonacci retracement and was able to halt the sell-off, at least for the time being. We assume that the gold price will now recover. Our price target is the lower edge of the very small value area of the entire downward movement to date.
Transaction en cours
Nice breakout so far. The price shouldn't move below the support zone at around $ 2663. Therefore, we move our SL to this level. Keep the FOMC meeting at 2pm in mind. A lot of volatility is expected. Trade fermée manuellement
We close this with a small profit as the price is going lower.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.