Gold prices lost three consecutive days of gains, falling below the 20-day exponential moving average (EMA) after the US Federal Reserve (Fed) released the minutes of its June monetary policy meeting. labor. Although most officials have agreed to a pause in June, a rate hike in July is almost inevitable. At the time of writing, XAU/USD is trading at $1916.80, down 0.44% after hitting a high of $1934.97.
XAU/USD remains neutral to the downside, failing to break through solid resistance at the 20-day EMA at $1930.93, seen by Gold buyers as first resistance. Alternatively, Wednesday's daily close below Tuesday's low of $119.89 could open the door to further downside, with XAU/USD sellers eyeing the $1900 figure. , followed by the 200-day EMA at $1896.80.
XAU/USD remains neutral to the downside, failing to break through solid resistance at the 20-day EMA at $1930.93, seen by Gold buyers as first resistance. Alternatively, Wednesday's daily close below Tuesday's low of $119.89 could open the door to further downside, with XAU/USD sellers eyeing the $1900 figure. , followed by the 200-day EMA at $1896.80.
Despite worsening economic conditions, investors have mostly turned to the dollar as a temporary safe-haven amid growing expectations that the Fed will continue to raise interest rates. the big ladder. Shows a tough outlook for the metals market.
It works with H1, same as EMA34. Display identify the definite trend