Future Fed rate cuts are the focus, Trump bill limits decline

7月4日

🔔🔔🔔Gold news:

➡️ Gold prices fell by 0.80% on Thursday after a stronger-than-expected U.S. Nonfarm Payrolls report boosts the U.S. dollar, leading market participants to believe that the Federal Reserve is unlikely to cut interest rates at its July meeting.

➡️ Notably, the unemployment rate dropped to 4%, indicating continued strength in the labor market.

➡️ Meanwhile, Republicans are pushing forward Trump's sweeping tax and spending cut bill through Congress. The White House announced that Trump will sign the legislation into law at 5 p.m. Eastern Time on Friday, coinciding with the Independence Day holiday on July 4.

Personal opinion:
➡️ Gold price will remain above 3300, the Fed may not cut interest rates in July, putting downward pressure on gold prices, but Trump's tax and spending cut bill limits this decline

➡️ Analysis based on support resistance levels and Fibonacci combined with EMA to come up with a suitable strategy

Personal plan:
🔆Price Zone Setup:

👉Buy Gold 3295 - 3298
❌SL: 3291 | ✅TP: 3302 - 3306 – 3312

👉Sell Gold 3343 - 3346
❌SL: 3350 | ✅TP: 3339 - 3335 – 3330

FM wishes you a successful trading day 💰💰💰

7月4日

交易進行

Check gold

Personal plan:
hit + 85 pips from Sell 3345
setup successful

7月4日

交易結束：目標達成

Market moves sideways in US session due to holiday

Updated buying plan:

👉Buy Gold 3323 - 3326 (Scalping)
❌SL: 3319 | ✅TP: 3330 – 3334

👉Sell Gold 3341 - 3344 (Scalping)
❌SL: 3348 | ✅TP: 3337 - 3333