GOLD (May 25) adjusted to reflect the change in expectations
Gold prices have dropped below $1,960 in Asian trading, as the precious metal seeks to decrease further with the DXY attempting to reach its 10-week high of 104.00.
The USD Index has exhibited strength, despite unresolved US debt issues, and prolonged negotiations between the White House and Republican leaders.
Despite the Federal Open Market Committee's gentle signals for interest rate guidance, gold prices have not utilized them. Fed policy makers believe that raising interest rates in June is uncertain, as there is a possibility of a bank crisis.
This weekend, the US durable goods order data will be closely monitored. The economic data is expected to shrink by 1.0% compared to an expansion of 3.2%.
The USD Index has exhibited strength, despite unresolved US debt issues, and prolonged negotiations between the White House and Republican leaders.
Despite the Federal Open Market Committee's gentle signals for interest rate guidance, gold prices have not utilized them. Fed policy makers believe that raising interest rates in June is uncertain, as there is a possibility of a bank crisis.
This weekend, the US durable goods order data will be closely monitored. The economic data is expected to shrink by 1.0% compared to an expansion of 3.2%.
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🔴Missing 20pip :')
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🟢Plan active running
My idea is to Sell when the price line turns back to the confluence EMA which is also a resistance area. Buy when price support breaks and come back to test
⭐️Prepare a strategy for GDP data:
✅Buy order in the $1,934-$1,937 price zone when the support zone is approached.
✖️Stoploss: $1,930.
✅Sell the $1,970-$1,973 range when the price hits the resistance area.
✖️Stoploss: $1,978.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!