⭐️Fundamental Analysis
The weakening US dollar (USD) and the downward adjustment of US Treasury yields have pushed gold prices higher, as the USD is being affected by concerns about the trade war and political developments. Trade tensions between the US and countries such as Canada and Mexico have eased, along with expectations that the tariff war with China will not escalate. Moreover, the resolution of the Israel-Hamas conflict has brought hope to the market and reduced the attractiveness of the USD as a safe-haven asset.
Markets are awaiting important data such as the US Non-Farm Payrolls (NFP) and Consumer Price Index (CPI), which could influence the Fed's next move and affect gold prices. However, any new news about Trump's tariff policy could dampen the bullish momentum of gold prices and restore safe-haven demand for the USD.
⭐️Technical Analysis
Gold price fell from the all-time high of 2885 to 2860. Sellers seem to have temporarily accepted 2885 as the top of gold in the short term. When gold breaks 2860, gold will have a retreat to 2845 at least in today's European and American trading sessions. A retest of 2864 is a good opportunity for a SELL signal.
When the candle closes back above 2864, the sellers are exhausted and give a buy signal to 2890-2900. Pay attention to important resistance zones to get the best trading signals.
The weakening US dollar (USD) and the downward adjustment of US Treasury yields have pushed gold prices higher, as the USD is being affected by concerns about the trade war and political developments. Trade tensions between the US and countries such as Canada and Mexico have eased, along with expectations that the tariff war with China will not escalate. Moreover, the resolution of the Israel-Hamas conflict has brought hope to the market and reduced the attractiveness of the USD as a safe-haven asset.
Markets are awaiting important data such as the US Non-Farm Payrolls (NFP) and Consumer Price Index (CPI), which could influence the Fed's next move and affect gold prices. However, any new news about Trump's tariff policy could dampen the bullish momentum of gold prices and restore safe-haven demand for the USD.
⭐️Technical Analysis
Gold price fell from the all-time high of 2885 to 2860. Sellers seem to have temporarily accepted 2885 as the top of gold in the short term. When gold breaks 2860, gold will have a retreat to 2845 at least in today's European and American trading sessions. A retest of 2864 is a good opportunity for a SELL signal.
When the candle closes back above 2864, the sellers are exhausted and give a buy signal to 2890-2900. Pay attention to important resistance zones to get the best trading signals.
Trade active
gold break 2660 and go to 2645
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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.
JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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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.