Gold Trends After Powell's Congressional Testimony

12 Şub

Gold Market Update:

🔆On Tuesday, the key market event was Federal Reserve Chair Jerome Powell's testimony to Congress, which was less hawkish than expected and could weaken the U.S. dollar.

🔆Powell reaffirmed that no immediate policy changes are planned, maintaining the Fed’s 2% core inflation target. While he acknowledged that inflation remains elevated, he emphasized a patient approach to monetary adjustments.

🔆With Powell taking a neutral stance on interest rates and trade policy, the Fed is expected to keep rates steady at 4.25%-4.50% in March.

🔆Meanwhile, the U.S. 10-year Treasury yield remained firm at 4.55%, continuing its rebound from last week’s yearly low of 4.40%. Additionally, the Fed's sentiment indicator on the daily chart suggests a slight softening in the central bank’s previously hawkish stance.

Technical Analysis:

🔆Using the RSI (1H) indicator in combination with trend lines and key resistance-support levels.

Personal Outlook:

🔆The DXY index and U.S. 10-year bond yield are seeing slight gains, which could put downward pressure on gold prices. With Powell’s neutral stance, gold may experience a short-term decline after recently hitting all-time highs. Investors are also monitoring potential developments in Trump’s tariff policies and the ongoing Gaza conflict to adjust their strategies accordingly.

Plan:

🔆Price Zone Setup:

👉Sell Gold 2905 -2907
❌SL: 2912 | ✅TP: 2900 - 2995 – 2987


👉Buy Gold 2869 -2871 ( Asian session)
❌SL: 2864 | ✅TP: 2875 - 2880 – 2890

👉Buy Gold 2833 -2835
❌SL: 2827 | ✅TP: 2840 - 2850 – 2860

12 Şub

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Hit TP2 +120 pips , Great sell 2907
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13 Şub

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Hit + 120 pips