GOLD awaiting the release of the minutes of the US Central Bank
GOLD
OUTLOOK
Gold prices rose during these moments of trading, today, Wednesday, a day after falling below a major support level of 1,900 for the first time in a month and a half, with US Treasury yields receiving support from expectations that the Federal Reserve (US Central Bank) has not finished yet. from the monetary tightening cycle.
Today, investors are awaiting the release of the minutes of the US Central Bank meeting for the month of July, to explore the path of the next strategy related to interest rates.
Currently , consolidation above strong support area 1895 - 1902 the chance of rise up increase but to confirm the bullish trend should stable above 1912 by 4H candle and then it will help the price to reach the next resistance line 1922 or the price can go a little further for example 1932 and 1943
as for renewing the bearish attempts , this requires the price to stable under 1895 by 4H candle and the we will see the price record the new lows for example 1886 and 1865
the expect range trading for today is between support line 1902 and resistance line 1912
Today news will affect the market
support line : 1902 , 1895
resistance line : 1912 , 1922
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OUTLOOK
Gold prices rose during these moments of trading, today, Wednesday, a day after falling below a major support level of 1,900 for the first time in a month and a half, with US Treasury yields receiving support from expectations that the Federal Reserve (US Central Bank) has not finished yet. from the monetary tightening cycle.
Today, investors are awaiting the release of the minutes of the US Central Bank meeting for the month of July, to explore the path of the next strategy related to interest rates.
Currently , consolidation above strong support area 1895 - 1902 the chance of rise up increase but to confirm the bullish trend should stable above 1912 by 4H candle and then it will help the price to reach the next resistance line 1922 or the price can go a little further for example 1932 and 1943
as for renewing the bearish attempts , this requires the price to stable under 1895 by 4H candle and the we will see the price record the new lows for example 1886 and 1865
the expect range trading for today is between support line 1902 and resistance line 1912
Today news will affect the market
support line : 1902 , 1895
resistance line : 1912 , 1922
If this post was useful to you , don't forget to subscribe and like , Thanks ❤️
UPDATE
now the price try to break the last point of support zone which is 1895 so be care if can stable under it by 4H candle which could lead to either a deeper correction to 1886 , 1865 and 1850
additionally 15 minutes left for minutes of the US Central Bank meeting for the month of July and this news will affect the market and decide the next face of gold so be care