๐Ÿ”ฅ๐Ÿ”ฅGOLD TO 2330๐Ÿ”ฅ๐Ÿ”ฅ

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INFORMATION

Gold price climbs steadily, eyeing Wednesday's $2,300 psychological figure amid high US Treasury bond yields and a soft US Dollar. Speeches from Federal Reserve officials, strong jobs data, and a dip in services business activity weighed on the American currency. Therefore, the XAU/USD spot price is at $2,295, refreshing all-time highs and gaining more than 0.60%.

Recently, Fed Chair Jerome Powell stated the US central bank has time to deliberate about rate cuts, given the strength of the economy and the inflation readings. He reiterated that if the economy evolves as expected, they will cut borrowing costs โ€œat some point this year.โ€


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โค๏ธMY FOREX TEAM - Technical Analysis

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โค๏ธNOTE

Gold price soars, supported by weakening US Dollar in face of high Treasury yields.
XAU/USD was boosted by Fed Chair Powell hinting at rate cuts within the year, contingent on sustained inflation decline.
Despite a strong job market as shown by ADP data, indications of a slowdown in services activity contribute to the precious metal's gains.

โค๏ธMONEY CAPITAL MANAGEMENT

โšก๏ธ Only Trade With Risk Capital
โšก๏ธ Cut Losses Short, Let Profits Run On
โšก๏ธ Avoid Using Too Much Leverage
โšก๏ธ Avoid Taking Too Much Heat
โšก๏ธ Do Not Give in to Greed
โšก๏ธ Take profit equal to 4-6% of your capital
โšก๏ธ Stop lose equal to 2-3% of your capital
๋…ธํŠธ
Buy Limit @ 2278 - 2284 SL @ 2274
๋…ธํŠธ
SELL @ 2294 - 2297 TP @ 2283 SL @ 23307
๋…ธํŠธ
SELL TP OPEN CANCEL THE BUY LIMIET
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