GOLD NEWS AND TECHNICAL ANALYSIS
Earnings Reports and Trade Optimism Take Precious Metals Lower – will it take gold below 1400?
The gut feeling and the charts show that we are probably going to see a weaker dollar before the end of the year
There are contradictions in expectations, on the one hand, the weakening dollar will give a boost to gold increases, on the other hand, the future of further lowering interest rates will set the tone for the future – expectations of a further downgrade will strengthen gold, while a halt will weaken it
FOMC meeting Federal Reserve is today, and it is expected that they will announce and implement a ¼% interest rate deduction. Currently, the futures is predicting that there is a 97.3% probability the Fed will announce a rate cut
the third issue -Upcoming meeting in Chile November 16–17, 2019 where the leaders of both China and the United States will meet face to face and hopefully sign the agreement
Confused? me too
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GOLD NEWS
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GOLD FORECAST |
Gold price Technical analysis
As long as gold ( XAU/USD )stay and trade above 1519-1524 the trend is bullish
Short term remain in 1474/1467/1453 /1438
Next resistance levels stay in 1530 1560 if 1560 price will break up then next targets is in 1720+_ for my opinion but it’s far so let’s keep that in our mind and meanwhile focus on the present
From a closer look its look like we are facing a correction in the gold to test the 1379-1405 price area – see the same pattern in charts that happened before
This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice