Gold Shows Short Term Reversal Pattern, Buy or Sell?

6 Şub

🔔🔔🔔Gold News:

🔆The tariff war between the US and its countries is easing with no signs of further escalation.

🔆With trade tensions temporarily easing, attention turns to Friday’s key US Non-Farm Payrolls (NFP) data, which could signal the Fed’s next policy move. The NFP data could emerge as the key market driver for Gold prices

🔆Meanwhile, the US Jobless Claims report will be watched along with Fedspeak for some trading impetus for Gold prices.

🔆In addition, Trump’s plan to end the Israel-Hamas geopolitical conflict also provided a glimmer of hope to the market, reducing the USD’s appeal as a safe haven. Israeli Prime Minister Benjamin Netanyahu and Trump met on Tuesday at the White House and discussed key issues in the Middle East.


Technical Analysis:

🔆RSI (1H) has now moved out of the overbought level and is showing signs of falling.
🔆Head and shoulders pattern is likely to emerge

Commentary:

🔆Gold prices are bearish in the short term and will wait for the news on Unemployment Claims along with the US Fedspeak for more momentum. Continuing to monitor the USD/JPY developments, the Japanese Yen has hit a nearly two-month high against the US Dollar, dragging USD/JPY down sharply. This is a significant resistance level for the Greenback.

Plan:

🔆Price Zone Setup:

👉Buy Gold 2840 -2843 (European session)
❌SL: 2835 | ✅TP: 2849 - 2855 – 2862

👉 Buy Gold 2818 – 2820
❌SL: 2813 | ✅TP: 2825 – 2832 – 2840

👉Sell Gold 2888 -2890
❌SL: 2895 | ✅TP: 2884 - 2878 – 2870

Thank you for reading my comment: "FM"

6 Şub

İşlem aktif

Gold is going according to FM's plan

7 Şub

İşlem elle kapatılmış

Xau/usd retreated to support and bounced as expected