GOLD (June 2) Expect a breakout above $1,980 after NF . data

Gold prices have felt marginal selling pressure after failing to sustain above key resistance at $1,980 during the Asian session. The precious metal showed solid bullish momentum on Thursday, effectively capitalizing on the DXY sell-off.

S&P 500 futures added nominal gains in Asia. The theme of risk appetite is playing out as US stocks were bought heavily on Thursday after the Fed remained divided on its stance on interest rate guidance for its June monetary policy meeting. DXY was beaten badly after Fed policymakers favored a pause in rate hikes.

הערה:

Gold price broke a downward sloping trendline drawn from the all-time high at $2,079 on a two-hour scale. The precious metal is building strength to break through Horizontal Resistance drawn from the May 19 high at $1,984. A Bull cross, represented by the 89 EMA at $1,965, supports more of the uptrend.

הערה:

⭐️NF . message trading strategy
✅Buy order in the $1,951-$1,954 price zone when the support zone is approached.
✖️Stoploss: $1,948.

✅Sell ​​the $1,993-$1,989 range when the price hits the resistance area.
✖️Stoploss: $1,997.

AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!