Gold sellers target $2,300 again as the new week begins
Dear traders!
Gold prices are falling early Monday after seeing a sell-off of more than 1% on Friday. Gold traders are now looking forward to a series of speeches from US Federal Reserve policymakers later on Monday to signal the new policy and its impact on the USD.
Despite the triangle breakout confirmed last Thursday, Gold prices were unable to extend the bullish breakout and returned to the ascending channel limit once again, resulting in a weekly close below the Midpoint. Simple Moving Average (EMA)34, currently at $2,325.
Such a move has buoyed sellers. Furthermore, the Bear Cross confirmed last week, after the 34-day EMA crossed the 89-day EMA from above on a daily closing basis, remains a cause of concern for buyers.
Gold prices are falling early Monday after seeing a sell-off of more than 1% on Friday. Gold traders are now looking forward to a series of speeches from US Federal Reserve policymakers later on Monday to signal the new policy and its impact on the USD.
Despite the triangle breakout confirmed last Thursday, Gold prices were unable to extend the bullish breakout and returned to the ascending channel limit once again, resulting in a weekly close below the Midpoint. Simple Moving Average (EMA)34, currently at $2,325.
Such a move has buoyed sellers. Furthermore, the Bear Cross confirmed last week, after the 34-day EMA crossed the 89-day EMA from above on a daily closing basis, remains a cause of concern for buyers.
Transaction en cours
Transaction en cours
Commentaire:
⭐️Join our FREE Signal Channel for instant benefits:
t.me/+kTkfm25E0JVmYWVl
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
t.me/+kTkfm25E0JVmYWVl
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
