GOLD It is expected to decrease slightly around the 2055 - 2048
Bets that the Federal Reserve would cut interest rates in March turned out to be a key factor supporting lending to the unyielding yellow metal.
The possibility of further conflict escalation in the Red Sea, coupled with China's economic difficulties, also act as favorable drivers for the safe-haven metal.
China's official PMI released over the weekend showed manufacturing activity continuing to decline with little sign of recovery by the end of 2023.
The three-day losing streak of XAUUSD gold may have ended when the price reached Ema50 and the lower band in the H4 frame. The Daily frame lacks bearish momentum, yesterday's red bar closed the candle and could not break the previous red bar's wick.
The possibility of further conflict escalation in the Red Sea, coupled with China's economic difficulties, also act as favorable drivers for the safe-haven metal.
China's official PMI released over the weekend showed manufacturing activity continuing to decline with little sign of recovery by the end of 2023.
The three-day losing streak of XAUUSD gold may have ended when the price reached Ema50 and the lower band in the H4 frame. The Daily frame lacks bearish momentum, yesterday's red bar closed the candle and could not break the previous red bar's wick.
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✔️TP1 0.6790
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❌SL 0.6720
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✔️TP1 2070
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