Gold price languishes near one-and-half-week low on hawkish Fed expectations
Gold price prolongs its descending trend witnessed over the past week or so and weakens further below the $1,915 level, hitting over a one-week low on Tuesday. The US Dollar (USD) stands tall near its highest level since December 2022 touched on Monday and continues to undermine the XAU/USDAdding to the upside in the US Dollar, the USD/JPY pair continues to march higher toward the 150.00, in the face of the monetary policy divergence between the Bank of Japan (BoJ) and the Fed. Looking ahead, should the Japanese authorities intervene in the forex (FX) markets to stem the Yen decline, the US Dollar could come under intense selling pressure alongside the USD/JPY pair, triggering a rebound in the Gold price.
However, the Japanese FX intervention doesn’t seem to be on the cards in the immediate term, although markets will continue to weigh the risks. Also, the focus will remain on the mid-tier United States CB Consumer Confidence and the New Home Sales data for fresh trading impetus. Speeches from several Fed policymakers will be also closely scrutinized along with the developments surrounding a US Senate deal to avert a government shutdown.
Setup Gold price
Gold buy 1911
Target 1931
Target 1951
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
Gold price prolongs its descending trend witnessed over the past week or so and weakens further below the $1,915 level, hitting over a one-week low on Tuesday. The US Dollar (USD) stands tall near its highest level since December 2022 touched on Monday and continues to undermine the XAU/USDAdding to the upside in the US Dollar, the USD/JPY pair continues to march higher toward the 150.00, in the face of the monetary policy divergence between the Bank of Japan (BoJ) and the Fed. Looking ahead, should the Japanese authorities intervene in the forex (FX) markets to stem the Yen decline, the US Dollar could come under intense selling pressure alongside the USD/JPY pair, triggering a rebound in the Gold price.
However, the Japanese FX intervention doesn’t seem to be on the cards in the immediate term, although markets will continue to weigh the risks. Also, the focus will remain on the mid-tier United States CB Consumer Confidence and the New Home Sales data for fresh trading impetus. Speeches from several Fed policymakers will be also closely scrutinized along with the developments surrounding a US Senate deal to avert a government shutdown.
Setup Gold price
Gold buy 1911
Target 1931
Target 1951
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
註釋
Gold buy trade註釋
20 pips running註釋
Keep hold註釋
40 pips running註釋
Keep hold註釋
Target will be done ✅
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