Gold long-short strategy US trading range operation

Gold prices (XAU/USD) recovered some of their losses during Monday's Asian trading session, driven by expectations that the Federal Reserve may cut interest rates further this year (and perhaps earlier than previously expected). This prospect weighed on the dollar, making dollar-denominated gold more attractive to overseas buyers.

However, the recent improvement in global risk sentiment (driven by the US-China trade agreement and the Israeli-Iranian ceasefire agreement) may reduce the safe-haven demand for gold. Investors will now turn their attention to upcoming comments from Federal Reserve officials, with Atlanta Fed President Rafael Bostic and Chicago Fed President Austan Goolsbee expected to speak later in the day.

Gold prices recovered, accumulating around the 3,300 price range at the beginning of the new week. Still in a major downtrend.

⭐️Set Gold Price:

🔥Sell Gold Area: 3316-3318 SL 3323
TP1: $3305
TP2: $3290
TP3: $3277

🔥Buy Gold Area: $3248-$3246 SL $3241
TP1: $3258
TP2: $3270
TP3: $3286

⭐️Technical Analysis:
Set reasonable buy orders based on technical indicators EMA 34, EMA89 and support and resistance areas.