🔱 GOLD TRADE IDEA 🔱
BIAS: Mixed
FUNDAMENTAL BIAS: Mixed
Golds status as and inflation hedge & safe haven is served as a double edged sword.
INTEREST RATES: Central banks worldwide are looking to increase rates faster- putting bearish pressure on non-interest bearing gold.
- (however not all central banks like Japan & Europe)
SAFE HAVEN: The ongoing war between Russia & Ukraine should keep losses in check.
Therefore I am more tilted towards bullishness of gold.
TECHNICAL BIAS: Mixed
Price is on a bearish momentum.
Price can potentially dip from its first resistance level at 1965 towards 1915 in line with horizontal swing support.
Areas of interest:
H4 timeframe, resistance at 1965
H4 timeframe, support at 1915
BIAS: Mixed
FUNDAMENTAL BIAS: Mixed
Golds status as and inflation hedge & safe haven is served as a double edged sword.
INTEREST RATES: Central banks worldwide are looking to increase rates faster- putting bearish pressure on non-interest bearing gold.
- (however not all central banks like Japan & Europe)
SAFE HAVEN: The ongoing war between Russia & Ukraine should keep losses in check.
Therefore I am more tilted towards bullishness of gold.
TECHNICAL BIAS: Mixed
Price is on a bearish momentum.
Price can potentially dip from its first resistance level at 1965 towards 1915 in line with horizontal swing support.
Areas of interest:
H4 timeframe, resistance at 1965
H4 timeframe, support at 1915
+80 pips up baby