Gold > Inflation Fears and Where Prices Likely to Go!!
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Analysis on #EURUSD
Hello friends.
The price of gold is moved by many factors, like supply and demands also inflation.
Inflation fears were on the rise lately and that is terrorizing financial markets, we have seen it yesterday on the stock market and on the Crypto market.
however, if you ask me I will say that the likes of Amazon killed inflation forever, we will see some inflation within the market but not full-blown inflation, look at then GBU, CPU market due to Crypto mining etc.
now the gold prices are near trendline resistance also major resistance level near 1850-1860 level, can we see another rejection from there toward 1740-1750.
i don't think we see 2000 for gold anytime soon if all other factor remains equal and this movement we are seeing is just money rotation from another market to Gold market and it will go out and find another opportunity if turns out there other ways to invest than gold, do not forget we are up 10% from the bottom and profit-taking will kick in.
in the end, I am looking for a rejection pattern or rejection candle to start looking for a selling opportunity, otherwise, all things suggest Gold will continue rising
Safe trading everyone
Check today analysis below⠀
>> “Time is your friend; impulse is your enemy.”
_____________________________________________________________________________⠀
-Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀
-Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Analysis on #EURUSD
Hello friends.
The price of gold is moved by many factors, like supply and demands also inflation.
Inflation fears were on the rise lately and that is terrorizing financial markets, we have seen it yesterday on the stock market and on the Crypto market.
however, if you ask me I will say that the likes of Amazon killed inflation forever, we will see some inflation within the market but not full-blown inflation, look at then GBU, CPU market due to Crypto mining etc.
now the gold prices are near trendline resistance also major resistance level near 1850-1860 level, can we see another rejection from there toward 1740-1750.
i don't think we see 2000 for gold anytime soon if all other factor remains equal and this movement we are seeing is just money rotation from another market to Gold market and it will go out and find another opportunity if turns out there other ways to invest than gold, do not forget we are up 10% from the bottom and profit-taking will kick in.
in the end, I am looking for a rejection pattern or rejection candle to start looking for a selling opportunity, otherwise, all things suggest Gold will continue rising
Safe trading everyone
Check today analysis below⠀
>> “Time is your friend; impulse is your enemy.”
_____________________________________________________________________________⠀
-Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀
-Please note this is just a PREDICTION and I have no reason to act on it and neither should you
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