Hello everyone! The price of gold is currently decreasing exactly like Karina's previous analysis
It is evident that gold has not received much support from news events over the past week. The recovery of the USD and interest rates from the Federal Reserve have acted as significant obstacles, weighing heavily on investor sentiment and causing a sharp decline in precious metals.
Regarding news events this week, we will receive three highly impactful announcements that will affect gold. These announcements will be published between November 14th and November 16th. Karina will provide detailed updates on each news event in upcoming articles.
In terms of chart analysis:
Gold is currently testing the support levels of the 34 and 89 EMA lines. Corresponding to the Fibonacci retracement levels, gold is expected to decline towards the anticipated levels of 0.5 and 0.618 (as marked on the chart). Alongside these Fibonacci levels is the support level of $1910, which is an important level to watch and serves as Karina's target for the price decline. From that point, further movement and the next trend of gold will become clearer.
Now, what are your thoughts on whether gold will increase or decrease in price, and what is your target for that expectation?
It is evident that gold has not received much support from news events over the past week. The recovery of the USD and interest rates from the Federal Reserve have acted as significant obstacles, weighing heavily on investor sentiment and causing a sharp decline in precious metals.
Regarding news events this week, we will receive three highly impactful announcements that will affect gold. These announcements will be published between November 14th and November 16th. Karina will provide detailed updates on each news event in upcoming articles.
In terms of chart analysis:
Gold is currently testing the support levels of the 34 and 89 EMA lines. Corresponding to the Fibonacci retracement levels, gold is expected to decline towards the anticipated levels of 0.5 and 0.618 (as marked on the chart). Alongside these Fibonacci levels is the support level of $1910, which is an important level to watch and serves as Karina's target for the price decline. From that point, further movement and the next trend of gold will become clearer.
Now, what are your thoughts on whether gold will increase or decrease in price, and what is your target for that expectation?
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