Maintain Downtrend - Waiting for US-China Trade Negotiations
🔔🔔🔔Gold news:
➡️Gold prices declined for a third consecutive day on Friday amid a combination of bearish factors. Optimism surrounding the US-UK trade deal and upcoming US-China negotiations weakened demand for safe-haven assets. Meanwhile, the Federal Reserve’s hawkish pause boosted the US Dollar to its highest level in weeks, adding further pressure on the XAU/USD pair.
Personal opinion:
➡️ Gold prices show a more gradual correction after breaking down the over-weighted price zones, and will continue to maintain this selling pressure in the short term. and wait for the market’s reaction tomorrow to the US-China trade talks
➡️Analysis based on important resistance - support and Fibonacci levels combined with trend lines to come up with a suitable strategy
Personal plan:
🔆Price Zone Setup:
👉Sell Gold 3324 - 3327
❌SL: 3331 | ✅TP: 3320 -3315- 3310
👉Sell Gold 3223 - 3226
❌SL: 3219 | ✅TP: 3230 -3235- 3240
FM wishes you a successful trading day 💰💰💰
source https://www.tradingview.com/chart/XAUUSD/6uTcPjcj-Maintain-Downtrend-Waiting-for-US-China-Trade-Negotiations/
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