Gold trading strategy november 12
업데이트됨
Fundamental Analysis
Gold prices fell to $2,600, or a fresh one-month low, heading into Tuesday’s European session on continued buying of the US dollar (USD). Investors remained hopeful that US President-elect Donald Trump’s expected expansionary policies could boost economic growth and boost inflation, limiting the scope for the Federal Reserve to ease policy. This sent US Treasury yields higher, further supporting the greenback and dragging the non-yielding yellow metal lower for a third straight day.
It was also the fourth negative move in the past five days for safe-haven gold, which appeared unaffected by concerns that Trump’s protectionist stance could spark a trade war. It will now be interesting to see whether the shorts retain control or choose to reduce their bets ahead of speeches from a host of influential FOMC members, including Fed Chair Jerome Powell, on Thursday. In addition, US consumer inflation figures on Wednesday will be looked at for clues on the Fed's rate cut path and provide fresh impetus to XAU/USD.
Technical Analysis
Gold prices broke the last support zone of 2606 and headed towards the 2582-2580 zone. Waiting for gold to close below the 2606 area on m30 and SELL signals to be established towards the 268x zone. Waiting for the early US session if the front port zone around 2592 is broken, then hold the sell signal to 258x. If it fails to break 2592, close SELL BUY at the beginning of the short scalp session back to zone 06 and continue SELL to trade within the range.
Gold prices fell to $2,600, or a fresh one-month low, heading into Tuesday’s European session on continued buying of the US dollar (USD). Investors remained hopeful that US President-elect Donald Trump’s expected expansionary policies could boost economic growth and boost inflation, limiting the scope for the Federal Reserve to ease policy. This sent US Treasury yields higher, further supporting the greenback and dragging the non-yielding yellow metal lower for a third straight day.
It was also the fourth negative move in the past five days for safe-haven gold, which appeared unaffected by concerns that Trump’s protectionist stance could spark a trade war. It will now be interesting to see whether the shorts retain control or choose to reduce their bets ahead of speeches from a host of influential FOMC members, including Fed Chair Jerome Powell, on Thursday. In addition, US consumer inflation figures on Wednesday will be looked at for clues on the Fed's rate cut path and provide fresh impetus to XAU/USD.
Technical Analysis
Gold prices broke the last support zone of 2606 and headed towards the 2582-2580 zone. Waiting for gold to close below the 2606 area on m30 and SELL signals to be established towards the 268x zone. Waiting for the early US session if the front port zone around 2592 is broken, then hold the sell signal to 258x. If it fails to break 2592, close SELL BUY at the beginning of the short scalp session back to zone 06 and continue SELL to trade within the range.
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