XAUUSD prices recently dropped to a low since March of last year, putting pressure on the $1890 area. Market participants are feeling nervous about the changes, especially after the Fed (US Federal Reserve) expressed concern about inflation and the possibility of interest rate hikes. While the US is not the only country facing the challenge, the situation in the UK and China is also having an impact.The employment and inflation figures in the UK have created curiosity, especially about the Bank of England's (BoE) interest rate hike policy. Meanwhile, in New Zealand, the Reserve Bank of New Zealand (RBNZ) maintained interest rates and faced an upbeat situation on inflation.
Besides, China is also facing difficulties, especially in the real estate sector. These fluctuations have an impact on the price of gold (XAUUSD), represent volatility in the market and affect investors.
BUY XAUUSD: 1886 - 1884
Stoploss : 1880
Take Profit : 1890
Take Profit : 1895
Take Profit : 1900
Note
The yellow metal’s latest corrective bounce could be linked to a retreat in the US Treasury bond yields and the US Dollar, as well as hopes for China stimulus. That said, the US bond coupons remain pressured after challenging the multi-year high the previous day while the US Dollar Index (DXY) also consolidates the fourth weekly gain in a row as market players brace for the next week’s annual event at the Jackson Hole Symposium where the top-tier central bankers speak.Note
Let's continue to wait for the market to match our signalNote
Gold prices gained some positive traction on Friday and now, appear to have broken a 4-day bearish streak to its lowest level since March 13, around the $1,885 region touched today. yesterday. XAU/USD maintained its bid throughout the early part of the European session and is now trading just above $1,890, up around 0.30% on the day. However, the intraday bulls lack confidence in the bulls, so caution is warranted before positioning for any meaningful rebound.Note
Congratulations to everyone who followed this Mars signal and won 50 pips of the market. everyone can close part of profit and put Stop loss on entry to go to TP1Note
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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.