XAUUSD : Waiting for recovery

Güncellendi
Gold prices (XAU/USD) fell to fresh five-month lows before stabilizing around $1,890 as market participants looked for more clues to extending the previous downturn, supported by recent downturns. hawkish Federal Reserve (Fed) concerns and risk aversion. That said, fears of a recession in China and weaker growth numbers in advanced economies coupled with firmer US data to boost US Treasury yields. and the US Dollar, which in turn affects XAU/USD.

Moving on, the absence of key data/events could allow Gold Price to consolidate recent losses to multi-day lows. However, a wave of risk aversion and more stable yields could keep the US Dollar afloat, thus boosting XAU/USD recovery unless witnessing any strong positive data/news Which force can affect the Greenback and improve the mood.
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Gold prices have recovered from Wednesday's losses, now trying to hold near $1,900 per troy ounce during the early hours of the European session on Thursday. The release of recent strong macroeconomic data from the United States (US) on Wednesday put downward pressure on gold prices. Investors are looking for additional impetus from the upcoming US economic indicators to get a clearer view of the possibility of the US Federal Reserve (Fed) tightening monetary policy further.
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- Unemployment claims in America recorded 264 thousand new applications, compared to expectations of recording 260 thousand applications.
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- Goldman Sachs is planning a hiring joy to fix fading amid Fed sternness.
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If there is no strong bounce above $1,905 this week, confidence that a downtrend in gold has been established will increase. In this case, the $1,800 - $1,810 range is a potential technical target. This has been a difficult range for gold to cross over the past 3 years.
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🕯 SELL GOLD | 1900 - 1897

🔴 SL: 1905

🟢 TP1: 1892
🟢 TP2: 1887
İşlem aktif
Running + 30pips ✔️✔️✔️
İşlem kapandı: hedefe ulaştı
Close Full Hit TP2 + 110pips 😮
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- Traders reduce short positions to the lowest level since June 2022 for the S&P 500 index.
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