Growing concerns about a potential government shutdown in the United States and the deepening property crisis in China are boosting the value of precious metals. China Evergrande Group's decision to delay debt restructuring and the detention of some employees from its asset management unit by Chinese authorities have contributed to this uncertainty. China's more cautious approach to economic stimulus measures is also dampening investor appetite for risky assets.
The US dollar (USD) remains under pressure, but it has not experienced a significant surge, as traders appear reluctant to make strong bets. Instead, they are eagerly awaiting the latest updates on monetary policy from the Federal Reserve (Fed).
The Fed is set to reveal the outcomes of its two-day monetary policy meeting this Wednesday and is expected to maintain the status quo. Nevertheless, the market is still assessing the possibility of the Fed raising interest rates by another 25 basis points later this year, potentially in November or December.
Trading Strategy:
Buy XAUUSD in the price range of 1923-1925
Place a stop loss at 1918.
Set Take Profit 1 at 1930.
Set Take Profit 2 at 1935.
Set Take Profit 3 at 1940.
Sell XAUUSD in the price range of 1937-1940
Place a stop loss at 1943.
Set Take Profit 1 at 1930.
Set Take Profit 2 at 1915.
Set Take Profit 3 at 1910.
Note: It's crucial to follow sound capital management principles and risk only 1% of your account. Avoid risking more than 5% of your account within the nearest 10 price levels. Always implement stop-loss orders (SL) in all trading situations and pay close attention to trades in line with your current capital.
The US dollar (USD) remains under pressure, but it has not experienced a significant surge, as traders appear reluctant to make strong bets. Instead, they are eagerly awaiting the latest updates on monetary policy from the Federal Reserve (Fed).
The Fed is set to reveal the outcomes of its two-day monetary policy meeting this Wednesday and is expected to maintain the status quo. Nevertheless, the market is still assessing the possibility of the Fed raising interest rates by another 25 basis points later this year, potentially in November or December.
Trading Strategy:
Buy XAUUSD in the price range of 1923-1925
Place a stop loss at 1918.
Set Take Profit 1 at 1930.
Set Take Profit 2 at 1935.
Set Take Profit 3 at 1940.
Sell XAUUSD in the price range of 1937-1940
Place a stop loss at 1943.
Set Take Profit 1 at 1930.
Set Take Profit 2 at 1915.
Set Take Profit 3 at 1910.
Note: It's crucial to follow sound capital management principles and risk only 1% of your account. Avoid risking more than 5% of your account within the nearest 10 price levels. Always implement stop-loss orders (SL) in all trading situations and pay close attention to trades in line with your current capital.
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Still in my prediction
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The market is slowing down at times
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The market is sideway but still go up as predicted
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the market seems to be manipulated, but will go up soon
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Market recovery is not expected. But it has been a good recovery
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The market is fluctuated
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The market has a good result as analyzed. Missing some small parts
