GOLD → Is it worth going up against knives? No trading history..

vor 3 Tagen XAUUSD continues to renew its high without any strong pullbacks. Buyers continue to behave quite aggressively before strong news. But everywhere there are risks and BUT!!!



There is a lot of news ahead before the important Fed meeting on interest rates, where they are likely to be cut. The question of “by how much” remains open, as weaker data (25 basis points) could trigger an unexpected reaction in the market that could lead to a correction....
But before that we have to face retail sales, CPI, FOMC.... Volatility will be elevated in the week ahead....
BUT! For intraday trading right now, there is such a problem as lack of history. You need to build a strategy from the general technical and fundamental background, as well as from local levels and key zones. BUT! The market is strongly bullish and before the news there can be both profit-taking and continuation of the rally....

Resistance levels: 2588, 2600, 2610
Support levels: 2577, 2573, 2563

The local range 2588 - 2577 is being formed. Before the news, traders may go into a consolidation phase, but we should keep an eye on the dollar, if it starts its downward flight, gold will react accordingly. Accordingly, a breakout of the local range boundaries may trigger a move to one side or the other.
REMEMBER! The market is bullish! Selling without proper reasons is the same as going against knives!

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!

vor 3 Tagen

Trade ist aktiv

vorgestern

Trade ist aktiv

! UPDATE !



GOLD is consolidating after a rally - a positive sign of an interested buyer. The focus is on the resistance at 2589, as well as on the lower boundary of consolidation ahead of the data on retail prices

In the short (mid) term, gold may form a small correction before a further rally, which will be triggered by lower interest rates. BUT! A 0.5% decline will be a strong signal for the dollar to fall and gold to rise, but a 0.25 decline will be partly disappointing information for investors who may react rather unpredictably (if there is a negative market reaction, it will be short-term as the overall tone of the markets is set by the actual rate cut cycle).
Later today, the US retail sales report will be released, which may give a short-term impact in the market before the main event of September, tomorrow....

Resistance levels: 2588, 2600, 2615, 2625
Support levels: 2575, 2563, 2500

At the moment it is possible to trade from the borders of the consolidation range. But high volatility on the background of news can provoke a breakout of this or that border. Accordingly, the resistance breakthrough may cause the continuation of the rally to 2610-2625. Break of support will send the price to liquidity zones before further growth.

Regards R. Linda!

vorgestern

Trade ist aktiv