The current resistance zone fluctuates in a small range 1955 - 1973
Gold price is currently being restrained by the news that the Fed will continue to raise the basic interest rate to 25 points
Contrary to this, Nonfarm data is very low, supporting the break of resistance of gold 1970-1974
Gold plunged more than 7% off those highs with a three-week decline now testing confluent support around the 50% retracement / 2022 channel at ~1943 (intraday low registered at 1932). The focus now shifts on a possible exhaustion low heading into the start of June.
𝖷𝖠𝖴𝖴𝖲𝖣 BUY LIMIT 1962 - 1965 💯💯
✅𝖳𝖯1 1968
✅𝖳𝖯2 1970
✅TP3 1974
🛑𝖲𝖫 1955
𝖷𝖠𝖴𝖴𝖲𝖣 SELL LIMIT 1980 - 1983 💯💯
✅𝖳𝖯1 1975
✅𝖳𝖯2 1970
✅TP3 1965
🛑𝖲𝖫 1987
Gold price is currently being restrained by the news that the Fed will continue to raise the basic interest rate to 25 points
Contrary to this, Nonfarm data is very low, supporting the break of resistance of gold 1970-1974
Gold plunged more than 7% off those highs with a three-week decline now testing confluent support around the 50% retracement / 2022 channel at ~1943 (intraday low registered at 1932). The focus now shifts on a possible exhaustion low heading into the start of June.
𝖷𝖠𝖴𝖴𝖲𝖣 BUY LIMIT 1962 - 1965 💯💯
✅𝖳𝖯1 1968
✅𝖳𝖯2 1970
✅TP3 1974
🛑𝖲𝖫 1955
𝖷𝖠𝖴𝖴𝖲𝖣 SELL LIMIT 1980 - 1983 💯💯
✅𝖳𝖯1 1975
✅𝖳𝖯2 1970
✅TP3 1965
🛑𝖲𝖫 1987
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Running +50 Pips SELL XAUUSD
