Investors are showing optimism in the medium to long term as gold prices make a rebound. This is due to the anticipation that the US Federal Reserve will ease its monetary policy after 10 consecutive interest rate hikes over the past 14 months, leading to a potential depreciation of the dollar.
Despite concerns over inflation, positive data on the real estate market has investors worried that the Fed will delay high interest rates. However, the drop in gold prices has attracted more investment. Positive news about the US debt ceiling negotiations has also contributed to the increase in gold prices.
In terms of a trade plan, we will wait for confirmation of a close above the Trend + EMA confluence before entering a BUY order. We will set the stop loss at the nearest support zone, which was previously around 2000 USD/oz.
Despite concerns over inflation, positive data on the real estate market has investors worried that the Fed will delay high interest rates. However, the drop in gold prices has attracted more investment. Positive news about the US debt ceiling negotiations has also contributed to the increase in gold prices.
In terms of a trade plan, we will wait for confirmation of a close above the Trend + EMA confluence before entering a BUY order. We will set the stop loss at the nearest support zone, which was previously around 2000 USD/oz.
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✅ Support Free Trading Signals win rate 80%
FREE Chanel Signals: t.me/DNATradingForex
