XAUUSD: The seller is back!
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Fundamental Overview
The price of gold, measured in XAU/USD, has fallen for three consecutive days, indicating a bearish trend after a two-week respite. The US Dollar is holding its ground due to mixed feelings. The possibility of the US debt ceiling expiring, along with a drop in US bank deposits, could contribute to the bearish trend. However, optimism from US policymakers and hopes of recovery in Chinese inflation challenge the decline. Upcoming economic indicators and a speech by Federal Reserve Chairman Jerome Powell will be important to watch for any changes in the gold price.
predict gold back to downtrend
Plan trade in the intro :D
The price of gold, measured in XAU/USD, has fallen for three consecutive days, indicating a bearish trend after a two-week respite. The US Dollar is holding its ground due to mixed feelings. The possibility of the US debt ceiling expiring, along with a drop in US bank deposits, could contribute to the bearish trend. However, optimism from US policymakers and hopes of recovery in Chinese inflation challenge the decline. Upcoming economic indicators and a speech by Federal Reserve Chairman Jerome Powell will be important to watch for any changes in the gold price.
predict gold back to downtrend
Plan trade in the intro :D
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