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Fundamental Analysis:
The U.S. May CPI data came in below expectations, while jobless claims exceeded forecasts, reinforcing expectations of a Fed rate cut. Coupled with heightened Middle East tensions, safe-haven demand for gold has surged.
The US Dollar Index retreated below 98, providing support for gold prices.
Technical Analysis:
The 4-hour chart shows gold in an ascending channel, indicating bullish dominance, though a pullback should be watched.
Bollinger Bands resistance at 3405, support at 3350. Current price is near the upper band with a price-volume divergence, suggesting short-term momentum may weaken.
Trading Strategy:
Focus on long positions on pullbacks around support 3350. Consider shorting near 3405 resistance if the level holds.
Trading Strategy:
Sell@3405-3395
TP:3360-3350
buy@3350-3360
TP:3380-3390
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Fundamental Analysis:
The U.S. May CPI data came in below expectations, while jobless claims exceeded forecasts, reinforcing expectations of a Fed rate cut. Coupled with heightened Middle East tensions, safe-haven demand for gold has surged.
The US Dollar Index retreated below 98, providing support for gold prices.
Technical Analysis:
The 4-hour chart shows gold in an ascending channel, indicating bullish dominance, though a pullback should be watched.
Bollinger Bands resistance at 3405, support at 3350. Current price is near the upper band with a price-volume divergence, suggesting short-term momentum may weaken.
Trading Strategy:
Focus on long positions on pullbacks around support 3350. Consider shorting near 3405 resistance if the level holds.
Trading Strategy:
Sell@3405-3395
TP:3360-3350
buy@3350-3360
TP:3380-3390
Share accurate trading signals daily—transform your life starting now!
👇 👇 👇 Obtain signals👉👉👉
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Making profits will be as easy as breathing!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Click the link for accurate trading signals!
t.me/+yjp8kSPDleljYzA0
Change your life starting from entering my Telegram channel!
t.me/+yjp8kSPDleljYzA0
Making profits will be as easy as breathing!
t.me/+yjp8kSPDleljYzA0
t.me/+yjp8kSPDleljYzA0
Change your life starting from entering my Telegram channel!
t.me/+yjp8kSPDleljYzA0
Making profits will be as easy as breathing!
t.me/+yjp8kSPDleljYzA0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.