Gold Trading Robot
Gold Trading Robot

Gold Trading Robot

@goldtradingrobot

Technical Analysis: Gold price bulls might aim to reclaim $2,200 psychological mark and retest all-time high
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From a technical perspective, weakness below the overnight swing low, around the $2,164-2,163 region, is likely to find some support near the $2,156-2,155 area ahead of the $2,147-2,146 horizontal zone. A convincing break below the latter could drag the Gold price further towards the next relevant support near the $2,128-2,127 zone en route to the $2,100 round figure.

Meanwhile, the Relative Strength Index (RSI) on the daily chart has eased from the overbought territory and favours bullish traders. That said, the $2,200 psychological mark could act as an immediate strong barrier hurdle, above which a fresh bout of technical buying should lift the Gold price towards the record high, around the $2,223 zone touched last Thursday.

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🚨🚨GOLD TREDING ROBOT - SIGNAL UPDATE🚨🚨
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👍#xau/USD - SELL - AT > 2165.84

✅ {TP 1 > 2157.28}
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❌{STOP_LOSS > 2171.69}

Time Frame H1
MT.5

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Copy Trade Service Available on 50-50 Profit sharing using other broker but 70-30 using EXNESS👇👇
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🔴Any broker accepted on MT4 / MT5 platform
🔴 Minimum Deposit - 500
🔴 300-350$ daily profit guaranteed
🔴 Trade on sure shot signals only
🔴Automatic Robot Trading with expensive Indicators

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Gold Price Forecast: XAU/USD retraces recent losses, rises to near $2,170
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Gold price rises to near $2,170 per troy ounce, reclaiming losses from the previous two sessions. The uptick in Gold prices can be attributed to a weaker US Dollar (USD), which is influenced by the dovish sentiment surrounding the Federal Reserve's stance on interest rate trajectory. Market sentiment leans toward the Fed initiating interest rate cuts starting in June, and a softer Greenback has bolstered the appeal of bullion.

During a press conference, Federal Reserve Chair Jerome Powell noted that an unexpected rise in unemployment could lead the central bank to consider lowering interest rates. Powell also reassured markets that the Fed would not hastily respond to consecutive months of elevated inflation figures. Furthermore, Gold prices have been buoyed by recent indications from Fed policymakers that they still anticipate reducing interest rates by three-quarters of a percentage point by the end of 2024, despite recent high inflation readings.

Indeed, the decline in US yields indicates a shift in investor sentiment toward US Treasury bonds, potentially posing a challenge for non-yielding assets like Gold. With the 2-year and 10-year yields on US Treasury bonds holding steady at 4.60% and 4.21%, respectively. Investors may find the relative safety and stability of bonds more attractive compared to Gold.

The upcoming US inflation readings are expected to have a significant impact on the prices of the precious metal. Gold traders will closely monitor the release of Gross Domestic Product (GDP) data for the fourth quarter of 2023 and the Personal Consumption Expenditures (PCE) price index report from the United States (US) during the week, as these indicators can provide insights into inflationary pressures and influence Gold prices accordingly.


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echnical Analysis: Gold price bulls not ready to give up, $2,145 support holds the key ahead of the FOMC
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Against the backdrop of the recent blowout rally to the record peak, the pullback witnessed over the past week or so along a downward-sloping channel, constitutes the formation of a bullish flag pattern. Furthermore, technical indicators on the daily chart have eased from the overbought territory and are still holding comfortably in the positive zone. This, in turn, validates the constructive setup and suggests that the path of least resistance for the Gold price is to the upside.

That said, it will be prudent to wait for a sustained breakout through the descending channel before positioning for any further appreciating move. The Gold price might then accelerate the positive move to the $2,175-2,176 intermediate hurdle en route to the record peak, around the $2,195 area touched last week. Some follow-through buying beyond the $2,200 mark will set the stage for the resumption of the uptrend witnessed since the beginning of this month.

On the flip side, the $2,145-2,144 now seems to have emerged as an immediate strong support, which should act as a pivotal point for the Gold price. A convincing break below will expose the next relevant support near the $2,128-2,127 zone before the XAU/USD extends the corrective decline further towards the $2,100 round figure.

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Technical Analysis: Gold price bulls await breakout through descending trend-channel resistance
'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''

Against the backdrop of the recent blowout rally to the record peak, the pullback witnessed over the past week or so along a downward-sloping channel, constitutes the formation of a bullish flag pattern. Furthermore, technical indicators on the daily chart have eased from the overbought territory and are still holding comfortably in the positive zone. This, in turn, validates the constructive setup and suggests that the path of least resistance for the Gold price is to the upside.

That said, it will be prudent to wait for a sustained breakout through the descending channel before positioning for any further appreciating move. The Gold price might then accelerate the positive move to the $2,175-2,176 intermediate hurdle en route to the record peak, around the $2,195 area touched last week. Some follow-through buying beyond the $2,200 mark will set the stage for the resumption of the uptrend witnessed since the beginning of this month.

On the flip side, the $2,145-2,144 now seems to have emerged as an immediate strong support, which should act as a pivotal point for the Gold price. A convincing break below will expose the next relevant support near the $2,128-2,127 zone before the XAU/USD extends the corrective decline further towards the $2,100 round figure.

Our trading robot strives to efficiency generate a steady auto-pilot income with:

Economic Calendar : https://one.exnesstrack.net/ca....lendar/a/ecimui3kor/
*****************************************************************************
▪️Auto-pilot robot ✅🤖
▪️Monthly updates ✅⚙
▪️User friendly ✅🕹
▪️High profits ✅💵
▪️Fresh pairs ✅💱
▪️Dedicated support team ✅🥇

And much more... ‼

{ 🤖Register an Active Account Under Us and Get Your Robot.🤖}
👇🏽🎖Best Broker in the World {EXNESS}🎖👇🏽
Registration Link : https://one.exnesstrack.net/bo....arding/sign-up/a/eci
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