Today’s recommendation on gold against the dollar
- risk 0.50%
- The sell signal was triggered on Thursday and the target was reached completely.
- The purchase transaction has been completed and is still in process.
Best selling entry points
- Enter a sell order pending order from 1870 levels.
- Place a stop loss point closing the 60-minute candle above support levels 1883.
- Move the stop loss to the entry area and continue to take profit as the price moves by $10.
- Close half of the contracts with a profit equal to 10 dollars and leave the remaining contracts until the strong resistance levels at 1852.
Best buy entry points
- Enter a pending buy order from 1841 levels.
- Best pips points to place a stop loss closing 60 minutes an hour below 1825 levels.
- Move the stop loss to the entry area and continue to take profit as the price moves by $10.
- Close half of the contracts with a profit equal to 10 dollars and leave the rest of the contracts until the support levels 1870.
gold analysis
The price of gold varied with the opening of the weekly trading, after gold prices fell last week as a result of the federal language, which is still strict. Markets were expecting a pause in rate hikes after the Fed’s next policy meeting, so their initial assessment of the Fed members’ data was murky. However, several remarks by Federal Reserve officials have begun to reinforce the notion that interest rate increases are expected and that interest rates will need to remain high for an extended period of time. Gold prices fell last week as the Federal Reserve did not change its policies in line with market expectations. On Thursday, Fed member Barkin stressed the importance of continuing to tighten in order to control inflation. FOMC member Williams reiterated on Wednesday that the restrictive stance on monetary policy should be maintained for a few years, but did not make any firm commitments. At the same time, investors are awaiting inflation data, which indicates expectations for record increases, which may motivate the Federal Reserve to tighten further, and thus the rise of the dollar against the decline in gold and most financial assets.
technical level Gold price recorded slight gains during early trading this morning, gold trades below the broken trend line on the daily time frame, and gold retested the bullish channel on the 60-minute time frame, which it broke during last week’s trading, forming a flag pattern bearish At the same time, the precious metal is trading below strong resistance levels that are concentrated at 1871 and 1881 levels, respectively. On the other hand, gold is trading at the highest support levels, which are concentrated at 1952 and 1941 levels, respectively. At the same time, the price is trading above the moving averages 50, 100, and 200, respectively, on the daily time frame, while the price is trading below these averages on the four-hour time frame, as well as on the 60-minute time frame as well, in a sign of the divergence that gold is recording at the present time. . We expect the price of gold to fall below the mentioned support levels. Please adhere to the numbers in the recommendation, with the need to maintain capital management.
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