👑 Ideas For #XAUUSD / #GOLD
📈 The shakeup after the rate cuts... What's next?
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GOLD updates high to 2600 and then experiences a shakeout. Traders held the 2550 area and are currently trying to recover losses by testing the upper end of the range…
The Fed announced a 0.5% rate cut, bringing the interest rate to a range of 4.75%-5.0%. Why 0.5 and not 0.25? The Fed chief said that 0.25 poses threats to the economy that can no longer be allowed to...
The gold price failed to capitalize on the sharp Fed rate cut, updating the ATH to 2600 the price headed down to the 2560 - 2550 liquidity zones. Traders are waiting for data on jobless claims and existing home sales to assess the state of the economy as a whole, the news may set the course for a correction or strengthen the general background, which will affect further growth
Technically, the price approached the resistance rather quickly, which increases the chances of a bounce or a false breakout. The focus is on 2588- 2585. If the bears hold this area, the price may decline to the area of interest before rising.
Resistance levels: 2585, 2588, 2600
Support levels: 2566, 2559, 2550
The overall bullish market structure is clearly visible on D1. Traders, after the rate cuts, need to take a breath and wait for additional confirming signs.... For today, the focus is on the trading range indicated on the chart...
📈 The shakeup after the rate cuts... What's next?
———————————————
GOLD updates high to 2600 and then experiences a shakeout. Traders held the 2550 area and are currently trying to recover losses by testing the upper end of the range…
The Fed announced a 0.5% rate cut, bringing the interest rate to a range of 4.75%-5.0%. Why 0.5 and not 0.25? The Fed chief said that 0.25 poses threats to the economy that can no longer be allowed to...
The gold price failed to capitalize on the sharp Fed rate cut, updating the ATH to 2600 the price headed down to the 2560 - 2550 liquidity zones. Traders are waiting for data on jobless claims and existing home sales to assess the state of the economy as a whole, the news may set the course for a correction or strengthen the general background, which will affect further growth
Technically, the price approached the resistance rather quickly, which increases the chances of a bounce or a false breakout. The focus is on 2588- 2585. If the bears hold this area, the price may decline to the area of interest before rising.
Resistance levels: 2585, 2588, 2600
Support levels: 2566, 2559, 2550
The overall bullish market structure is clearly visible on D1. Traders, after the rate cuts, need to take a breath and wait for additional confirming signs.... For today, the focus is on the trading range indicated on the chart...