XAUUSD - Recession "Not the most likely case"

ที่อัปเดต:
Gold reaches lowest level in 3.5 months in US trading on Wednesday. Traders are focusing on precious metal charts due to lack of fundamental news impacting the market. August gold fell $8.3 to $1,915.

Federal Reserve Chairman Jerome Powell stated that raising interest rates in consecutive monetary policy meetings is not off the table, following a lack of action in June, while also acknowledging the possibility of an economic recession.

During his speech at the ECB Central Banking Forum in 2023, Powell remained cautious, affirming that the average dot plot suggests at least two more 25 basis points rate hikes this year, with the potential for consecutive increases.
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สแนปชอต
Gold prices have been declining since reaching a record high of $2.081 in early May. This decline was triggered by banking issues in the US, including JP Morgan's absorption of First Republic Bank. After consolidating near the lower bound of an ascending channel, gold prices broke below it on the weekly chart. Currently, the important support level is $1.875, which has acted as a pivot point in the past. The next resistance level is $1.956, which previously prevented higher prices.
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สแนปชอต
Breakouts and breakdowns often retest the level that was just broken. Geopolitical tensions escalated in eastern Europe over the weekend, causing gold prices to retest $1.937 and the underside of the ascending channel before decreasing in subsequent sessions. Currently, prices are below $1.915, which served as support in March and April last year. A close below this level on the daily chart reinforces the bearish outlook. Resistance is seen at $1.937 on the daily chart.
ความคิดเห็น
🐾 BUY GOLD zone 1900 - 1902

⚠️ Stop Loss : 1895

💲 Take Profit 1: 1906
💲 Take Profit 2: 1912
💲 Take Profit 3: 1920
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