What opportunities are there for XAUUSD investors today?
Gold currently I see there are 3 bearish candlesticks in the 235x area. Last night at 9 o'clock there was news that there had been a scan at both ends. Regarding the Trend, I see that gold is still on the Buy side. As for the reversal points, anyone who followed me yesterday saw the RSI Reversal zones very clearly.
Plan For Today I will still watch to Buy according to MA reactions around 2362>2366
SL 2358
TP 2372>238x
If Gold increases without breaking through 2372, I will consider selling lightly in this area according to the 2-peak model.
World gold price:
- Gold is often considered a safe asset in the context of economic instability. If RBNZ and the Fed express concerns about economic growth, gold prices could rise as investors seek safe havens.
- Economic instability often leads to an increase in demand for gold as a tool to protect value.
- If central banks (especially the Fed) are expected to raise interest rates, gold prices may come under downward pressure. Higher interest rates increase the opportunity cost of holding gold, because gold does not yield the same yield as other assets.
Chairman Powell's speech:
- The Fed Chairman will present monetary policy semi-annually to the House Financial Services Committee. This is an opportunity for Mr. Powell to update congressional members and the market on the US economic situation and the Fed's monetary policy direction.
- If Powell shows that the Fed will continue to raise interest rates to control inflation, the USD could appreciate due to expectations of higher yields.
- However, if he expresses concerns about economic growth and shows the possibility of maintaining or cutting interest rates, the USD may weaken.
Plan For Today I will still watch to Buy according to MA reactions around 2362>2366
SL 2358
TP 2372>238x
If Gold increases without breaking through 2372, I will consider selling lightly in this area according to the 2-peak model.
World gold price:
- Gold is often considered a safe asset in the context of economic instability. If RBNZ and the Fed express concerns about economic growth, gold prices could rise as investors seek safe havens.
- Economic instability often leads to an increase in demand for gold as a tool to protect value.
- If central banks (especially the Fed) are expected to raise interest rates, gold prices may come under downward pressure. Higher interest rates increase the opportunity cost of holding gold, because gold does not yield the same yield as other assets.
Chairman Powell's speech:
- The Fed Chairman will present monetary policy semi-annually to the House Financial Services Committee. This is an opportunity for Mr. Powell to update congressional members and the market on the US economic situation and the Fed's monetary policy direction.
- If Powell shows that the Fed will continue to raise interest rates to control inflation, the USD could appreciate due to expectations of higher yields.
- However, if he expresses concerns about economic growth and shows the possibility of maintaining or cutting interest rates, the USD may weaken.
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