XAUUSD is expected to continue falling after 2 days of decline
Actualizado
-XAUUSD: Bearish Comment – December 6th
-Entry sale: 2020-2025 (stop: 2032)
-Entry sale: 2040-2042 (Stop: 2051)
-Target date: 2000
- Long-term goal: 1980
-D1: Gold fully confirms the “maximum false breakout” zone. Since the beginning of the week, we've seen the biggest SL sweep in history in the D1 time frame, followed immediately by a sharp decline. So the selling pressure was very evident yesterday.
-The trader can continue selling on his bearish H1 frame and the price will touch the downtrend line.
We hope our traders have a productive trading day
Global gold prices fell for the second consecutive day from last night to today as the US economy announced favorable economic indicators.
New orders in November showed significant positive increases in manufacturing, services and distribution, exceeding the 50-point expansion mark, indicating that the U.S. economy is recovering. Markets tend to expect the US Federal Reserve to supply money as early as March 2024. However, the larger-than-expected rise in non-manufacturing prices suggests that the Fed is unlikely to withdraw the currency in March 2024.
Currently, the market is 99% confident that the Fed will keep interest rates on hold to regulate the US dollar at next week's December meeting. Positive information and expectations that the Federal Reserve will keep interest rates high contributed to the continued strength of the US dollar. strong. The dollar index, which indicates the dollar's strength in the international payments basket, jumped 0.25% to 103,970 points at 6:48 a.m. (Hanoi time) this morning. The strength of the US dollar has prompted investors to continue selling gold to earn profits and reduce the cost of storing gold.
-Entry sale: 2020-2025 (stop: 2032)
-Entry sale: 2040-2042 (Stop: 2051)
-Target date: 2000
- Long-term goal: 1980
-D1: Gold fully confirms the “maximum false breakout” zone. Since the beginning of the week, we've seen the biggest SL sweep in history in the D1 time frame, followed immediately by a sharp decline. So the selling pressure was very evident yesterday.
-The trader can continue selling on his bearish H1 frame and the price will touch the downtrend line.
We hope our traders have a productive trading day
Global gold prices fell for the second consecutive day from last night to today as the US economy announced favorable economic indicators.
New orders in November showed significant positive increases in manufacturing, services and distribution, exceeding the 50-point expansion mark, indicating that the U.S. economy is recovering. Markets tend to expect the US Federal Reserve to supply money as early as March 2024. However, the larger-than-expected rise in non-manufacturing prices suggests that the Fed is unlikely to withdraw the currency in March 2024.
Currently, the market is 99% confident that the Fed will keep interest rates on hold to regulate the US dollar at next week's December meeting. Positive information and expectations that the Federal Reserve will keep interest rates high contributed to the continued strength of the US dollar. strong. The dollar index, which indicates the dollar's strength in the international payments basket, jumped 0.25% to 103,970 points at 6:48 a.m. (Hanoi time) this morning. The strength of the US dollar has prompted investors to continue selling gold to earn profits and reduce the cost of storing gold.
Nota
Gold: Gold price is increasing slightly but is forecast to tend to decrease in the short term. If gold maintains above 2,023.47, investors can "long" with the expectation of taking profits at 2,037.01 and 2,054.80. On the contrary, if gold falls below 2,023.47, investors should "short" with the expectation of taking profits at 2,005.68 and 1,992.14.
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