🔱 GOLD TRADE IDEA 🔱
BIAS: Bearish
FUNDAMENTAL BIAS: Bearish
Gold may see further weakness from central banks’ affirmation to tackle inflation faster. In the FED Beige book yesterday they
reiterated the central bank’s path toward policy normalisation. A 2-2.5% neutral rate is likely to be reached by 2022.
The focus on central banks’ policies, returning after the shift to the war in eastern Europe, is likely to see xau lose its shine gradually as market participants come to terms with a protracted tussle between Russia and Ukraine.
TECHNICAL BIAS: Bearish
Expecting price to dip from 1965 resistance level, along with graphical pullback resistance towards the 1st support level of 1940 in line with a swing low support.
Otherwise price might break 1st resistance & head toward 1985.
BIAS: Bearish
FUNDAMENTAL BIAS: Bearish
Gold may see further weakness from central banks’ affirmation to tackle inflation faster. In the FED Beige book yesterday they
reiterated the central bank’s path toward policy normalisation. A 2-2.5% neutral rate is likely to be reached by 2022.
The focus on central banks’ policies, returning after the shift to the war in eastern Europe, is likely to see xau lose its shine gradually as market participants come to terms with a protracted tussle between Russia and Ukraine.
TECHNICAL BIAS: Bearish
Expecting price to dip from 1965 resistance level, along with graphical pullback resistance towards the 1st support level of 1940 in line with a swing low support.
Otherwise price might break 1st resistance & head toward 1985.
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