โค๏ธMY FOREX TEAMโค๏ธ
INFORMATION
Gold price climbs steadily, eyeing Wednesday's $2,300 psychological figure amid high US Treasury bond yields and a soft US Dollar. Speeches from Federal Reserve officials, strong jobs data, and a dip in services business activity weighed on the American currency. Therefore, the XAU/USD spot price is at $2,295, refreshing all-time highs and gaining more than 0.60%.
Recently, Fed Chair Jerome Powell stated the US central bank has time to deliberate about rate cuts, given the strength of the economy and the inflation readings. He reiterated that if the economy evolves as expected, they will cut borrowing costs โat some point this year.โ
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โค๏ธMY FOREX TEAM - Technical Analysis
Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS
โค๏ธNOTE
Gold price soars, supported by weakening US Dollar in face of high Treasury yields.
XAU/USD was boosted by Fed Chair Powell hinting at rate cuts within the year, contingent on sustained inflation decline.
Despite a strong job market as shown by ADP data, indications of a slowdown in services activity contribute to the precious metal's gains.
โค๏ธMONEY CAPITAL MANAGEMENT
โก๏ธ Only Trade With Risk Capital
โก๏ธ Cut Losses Short, Let Profits Run On
โก๏ธ Avoid Using Too Much Leverage
โก๏ธ Avoid Taking Too Much Heat
โก๏ธ Do Not Give in to Greed
โก๏ธ Take profit equal to 4-6% of your capital
โก๏ธ Stop lose equal to 2-3% of your capital