World gold suddenly plummeted last night
#XAUUSD ANALYSIS - January 25, 2024
🔴Recommended Sell: 2020-2024 (STOP: 2030)
✅ Target: 2011- 2004
💎 Gold has dropped sharply since the beginning of the week as expected.
💎 This week you should continue to watch to sell down, in yesterday's session the price completely broke the accumulation zone, reaching the lowest bottom of 2011.
💎 Traders can prioritize selling in the near future.
(Wish traders to have an effective trading strategy)
--------------------
Forecast:
Recently, there have been some assessments that the strong increase in gold prices at the end of 2023 has predicted the possibility of the Fed soon reversing monetary policy. The more cautious the Fed is now, the greater the pressure on profit-taking on precious metals
In addition, the US stock market's continuous breakthrough to new historic peaks has also reduced the flow of money into the gold market.
Thus, in the short term, gold is assessed to have somewhat negative developments.
But in the long term, gold is said to be in an uptrend when it is difficult for the USD to avoid a prolonged decline, not only because the Fed will cut interest rates but also due to pressure to reduce the use of the US currency coming from several major economies, including China.
🔴Recommended Sell: 2020-2024 (STOP: 2030)
✅ Target: 2011- 2004
💎 Gold has dropped sharply since the beginning of the week as expected.
💎 This week you should continue to watch to sell down, in yesterday's session the price completely broke the accumulation zone, reaching the lowest bottom of 2011.
💎 Traders can prioritize selling in the near future.
(Wish traders to have an effective trading strategy)
--------------------
Forecast:
Recently, there have been some assessments that the strong increase in gold prices at the end of 2023 has predicted the possibility of the Fed soon reversing monetary policy. The more cautious the Fed is now, the greater the pressure on profit-taking on precious metals
In addition, the US stock market's continuous breakthrough to new historic peaks has also reduced the flow of money into the gold market.
Thus, in the short term, gold is assessed to have somewhat negative developments.
But in the long term, gold is said to be in an uptrend when it is difficult for the USD to avoid a prolonged decline, not only because the Fed will cut interest rates but also due to pressure to reduce the use of the US currency coming from several major economies, including China.
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