25/05 - Unexpected reversal, continuing the downward trend
Gold prices traded in a tight range of $1,950 to $1,980, after falling below $2,000.
Incoming US Orders data is expected to show a 1.0% decline, versus a 3.2% gain. Gold price is currently slightly above support established in April at $1,949.83.
If the current selling trend continues, the price can move towards stronger support levels at $1945 and $1930. Gold prices are likely to continue to fluctuate in a range with a downtrend until the market reacts to US economic data and announcements from the US Federal Reserve.
The 20 EMA at $1,969.26 is acting as a resistance for the Gold price, thwarting any uptrend. The relative strength index (RSI) (14) has dipped below 40.00 showing that the downside momentum is justified.
XAUUSD
SELL 1968-1971
Stop Loss 1978
My own expected return is 1962-1955-1945
How about you?
NOTE: Always put TP, SL to keep your account safe and win the market!
Incoming US Orders data is expected to show a 1.0% decline, versus a 3.2% gain. Gold price is currently slightly above support established in April at $1,949.83.
If the current selling trend continues, the price can move towards stronger support levels at $1945 and $1930. Gold prices are likely to continue to fluctuate in a range with a downtrend until the market reacts to US economic data and announcements from the US Federal Reserve.
The 20 EMA at $1,969.26 is acting as a resistance for the Gold price, thwarting any uptrend. The relative strength index (RSI) (14) has dipped below 40.00 showing that the downside momentum is justified.
XAUUSD SELL 1968-1971
Stop Loss 1978
My own expected return is 1962-1955-1945
How about you?
NOTE: Always put TP, SL to keep your account safe and win the market!
Note
Breakout 1950Note
50pipsNote
the price can move towards stronger support levels at $1945 and $1930 => Price is back to 1945Note
Gold 1940 => +100pips
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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.
Publications connexes
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.