Today's gold price is experiencing a slight recovery since last night. The precious metal is currently fluctuating around 1945 USD and up 10 USD compared to the same time the previous day.
Although the recovery is a positive sign, the long-term downward trend has not been completely reversed as gold fell 3% last week and lost more than 60 USD as safe haven demand cooled and when the The Fed Chairman's "hawkish" comments still weigh heavily on the minds of investors selling gold. So we will have the following trading strategy:
Plan to trade on November 14
XAUUSD Sell zone 1958 - 1960
SL 1961
City 1950 - 1940 - 1935
XAUUSD Buy zone 1935 - 1933
SL 1930
City 1940 - 1950
Although the recovery is a positive sign, the long-term downward trend has not been completely reversed as gold fell 3% last week and lost more than 60 USD as safe haven demand cooled and when the The Fed Chairman's "hawkish" comments still weigh heavily on the minds of investors selling gold. So we will have the following trading strategy:
Plan to trade on November 14
XAUUSD Sell zone 1958 - 1960
SL 1961
City 1950 - 1940 - 1935
XAUUSD Buy zone 1935 - 1933
SL 1930
City 1940 - 1950