Gold market commentary (XAUUSD) on 2/3/2023
Gold prices rallied in the first half of the trading week, breaking out of the bearish trend that has dominated XAU/USD price action for most of February, following the surprisingly hot US Nonfarm Payrolls report.
The US 10-year Treasury yields are once again facing super-thick resistance at 4%, which is putting a hard limit on further US Dollar appreciation in the trading days. recent translation. While the yield on 10-year US Treasuries can't break above this level, the gold bulls have the upper hand.
Support level: 1,803.00 1,791.20 1,784.60
Resistance levels: 1,841.10 1,863.70 1,877.50
Recommendations for trading gold:
Buy 1830 - 1829
Stop Loss: 1825
Take profit 1: 1835
Take profit 2:1840
Take profit 3: 1850
Sell 1845 -1846
Stop Loss: 1850
Take profit 1: 1835
Take profit 2:1830
Take profit 3: 1825
Note: Always set TP and SL in all trading cases
If you have any questions or support, please leave a comment
The US 10-year Treasury yields are once again facing super-thick resistance at 4%, which is putting a hard limit on further US Dollar appreciation in the trading days. recent translation. While the yield on 10-year US Treasuries can't break above this level, the gold bulls have the upper hand.
Support level: 1,803.00 1,791.20 1,784.60
Resistance levels: 1,841.10 1,863.70 1,877.50
Recommendations for trading gold:
Buy 1830 - 1829
Stop Loss: 1825
Take profit 1: 1835
Take profit 2:1840
Take profit 3: 1850
Sell 1845 -1846
Stop Loss: 1850
Take profit 1: 1835
Take profit 2:1830
Take profit 3: 1825
Note: Always set TP and SL in all trading cases
If you have any questions or support, please leave a comment
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