GOLD 29/6 $$ Gold's power is limited by the dollar

The XAU/USD pair is being negatively affected by the moderate strength of the US Dollar. The Federal Reserve Chair, Jerome Powell, has stated that there may be two rate increases this year, and it is possible that the next policy meeting on July 25-26 could result in a lift-off. Powell also mentioned that he does not expect inflation to reach the Fed's 2% target until 2025. As a result, the US Dollar remains strong, reaching a two-week high, which in turn puts pressure on the price of Gold. However, concerns about economic headwinds caused by rapidly increasing borrowing costs could prevent traders from taking aggressive bearish positions on the safe-haven precious metal. This could help limit any further losses, at least for now.

Today, gold price still tends to recover slightly, but still can't go up and down is still the main thing

Set up BUY GOLD zone $1900 -$1903

Based on technical analysis indicators EMA 34, EMA 89 , strong support zone $1900

Yorum:

tonight have news Final GDP and Unemployment Claims. Everyone enter orders carefully