It is in your moments of decision that your destiny is shaped
A major shift in the market’s global monetary policy sentiment continues to drive new money into gold, boosting the current rally even further. The Federal Reserve’s decision to open a door to future rate cuts last week created a major shift in market sentiment globally, revealing a building distrust in the Fed and other central banks’ abilities to handle rising risks,“Gold’s reaction to the latest FOMC statements is symbolic of a massive dent in the confidence of the Fed, and hence other Central Banks, as the initial plan of unwinding the easy monetary stimulus of the past decade is proving impossible,” Gold’s rally to breach the $1,400 level for the first time in six years is a very significant breakthrough for the yellow metal.“To put the move into perspective, not even the Brexit shock of 2016 or the surprise election of Donald Trump could see a gold move above this level in USD terms,”
In my 11 years in the business, I have never been more uncertain however we try to look the picture of the precious metal sector from a technical side we could easily see that if gold breaks above $1422 then the next critical resistance stands at $1473 and after that vapor until $1,600.However, if you are a bull you will need to ask yourself these questions.
1-Are we in a recession yet? although gold may be telling us it’s an imminent occurrence
2-what is the probability of war between the U.S and Iran?
3-What if Trump gets an Agreement with trade with China, later this week?
Current active position
Asset: XAUUSD ( GOLD )
Sell Stop Entry Price:1415
Take Profit: 1160
Stop Loss:1480(we will reduce the stop loss points once positions will be more favorable)
Risk/Reward: 1:4
In my 11 years in the business, I have never been more uncertain however we try to look the picture of the precious metal sector from a technical side we could easily see that if gold breaks above $1422 then the next critical resistance stands at $1473 and after that vapor until $1,600.However, if you are a bull you will need to ask yourself these questions.
1-Are we in a recession yet? although gold may be telling us it’s an imminent occurrence
2-what is the probability of war between the U.S and Iran?
3-What if Trump gets an Agreement with trade with China, later this week?
Current active position
Asset: XAUUSD ( GOLD )
Sell Stop Entry Price:1415
Take Profit: 1160
Stop Loss:1480(we will reduce the stop loss points once positions will be more favorable)
Risk/Reward: 1:4
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