Candle Above 1931 Will Open 1938
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Hello,
We began the trading week on a positive note, achieving a significant victory with a take profit at 1930! It's worth noting that there is a chance of reaching 1938, but only if there is upward movement beyond 1931. Currently, there is a strong likelihood of a decline in price. Since the Federal Reserve is not expected to reduce interest rates, the dollar is likely to strengthen further, potentially causing a drop in gold prices. If the price breaks below 1912, it will likely move towards 1902. Nevertheless, despite these factors, the long-term outlook remains Bullish.
Trade with care
We began the trading week on a positive note, achieving a significant victory with a take profit at 1930! It's worth noting that there is a chance of reaching 1938, but only if there is upward movement beyond 1931. Currently, there is a strong likelihood of a decline in price. Since the Federal Reserve is not expected to reduce interest rates, the dollar is likely to strengthen further, potentially causing a drop in gold prices. If the price breaks below 1912, it will likely move towards 1902. Nevertheless, despite these factors, the long-term outlook remains Bullish.
Trade with care
Note
Updates will follow if anything changesNote
Its independence day today which is a bank holiday so there is expected to be less volumeNote
and off we go again top profit hit 1931Note
The price of gold is testing for support within the mid-channel region around the 1917 level. If the price manages to close above this level, there is a good probability of an upward swingNote
upward swing maxed out @ 1927
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