Gold is setting for the recovery
Gold might recover within a trading range with a potential target of $2400-2500 area.
The demand for "safe haven assets" has not gone anywhere. As yields of 30-year treasury bonds are moving down, and the US dollar is under pressure, Gold may get support this week.
From a technical structure standpoint, XAUUSD is moving within a second day of the recovery from the local dynamic support zone.
This may potentially lead to the development of the upswing.
Volatility is greater than normal, that's why stop-loss levels within a day should be slightly greater than normal. I consider a $10 (1000 pips) stop at the area of $2304 to protect the position.
Manage your risks at all times!
The demand for "safe haven assets" has not gone anywhere. As yields of 30-year treasury bonds are moving down, and the US dollar is under pressure, Gold may get support this week.
From a technical structure standpoint, XAUUSD is moving within a second day of the recovery from the local dynamic support zone.
This may potentially lead to the development of the upswing.
Volatility is greater than normal, that's why stop-loss levels within a day should be slightly greater than normal. I consider a $10 (1000 pips) stop at the area of $2304 to protect the position.
Manage your risks at all times!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.