Hello dear friends, let's delve into the gold price last week and discuss a new strategy with Karina!
Last week, the gold price appeared to decline, losing more than 40 USD from 2088 USD to 2045 USD. Towards the end of the week, gold seemed to remain relatively stable, focusing on a sideways movement with a resistance level at 2050 USD and a support level at 2030 USD.
On Friday, when the Non Farm news was released, gold experienced significant fluctuations, reaching as high as 2065 USD and as low as 2024 USD. However, gold closed at 2045 USD without any major breakthroughs occurring.
Regarding the prospects and evaluation of future trends: Given the current situation where the USD is gradually recovering, gold is still inclined towards a further decline, indicated by the reversal from the EMA 34 line on shorter time frames and consolidation on the 4-hour chart.
A breakdown of the support level will push gold back to the 2015 USD mark.
What about you? What are you expecting from gold?
Last week, the gold price appeared to decline, losing more than 40 USD from 2088 USD to 2045 USD. Towards the end of the week, gold seemed to remain relatively stable, focusing on a sideways movement with a resistance level at 2050 USD and a support level at 2030 USD.
On Friday, when the Non Farm news was released, gold experienced significant fluctuations, reaching as high as 2065 USD and as low as 2024 USD. However, gold closed at 2045 USD without any major breakthroughs occurring.
Regarding the prospects and evaluation of future trends: Given the current situation where the USD is gradually recovering, gold is still inclined towards a further decline, indicated by the reversal from the EMA 34 line on shorter time frames and consolidation on the 4-hour chart.
A breakdown of the support level will push gold back to the 2015 USD mark.
What about you? What are you expecting from gold?
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