Trade War, Will Gold Hit New ATH?

4 feb

News:
🔆 Trump postpones tariffs on Mexico and Canada, but not on China. The US 10-year bond yield continued to rise in the short term, reaching 4.57%. This caused the US dollar to recover in the short term, leading to a slight correction in gold prices during the Asian trading session.

🔆 However, China immediately imposed tariffs on US imports in response to the new US tariffs on Chinese goods, triggering a trade war between the world's two leading economies.

Commentary:
🔆 Gold prices are having a slight correction after reaching a new ATH. However, the latest developments in the trade war between countries are causing investors to consider gold as the top safe haven. Gold is expected to decline and then continue to rise in line with the main trend.

Technical Analysis:
🔆 Based on trend lines combined with Fibonacci and Support - Resistance levels

Plan:
🔆Price Zone Setup:

👉Sell Gold 2829 -2830 (European session)
❌SL: 2835 | ✅TP: 2825 - 2820 – 2815

👉 Sell Gold 2843 – 2845
❌SL: 2850 | ✅TP: 2839 – 2833 – 2825

👉 Buy Gold 2770 – 2772
❌SL: 2765 | ✅TP: 2777 – 2783 – 2790

Thank you for reading my comment: "FM"

4 feb

Trade attivo

Hit + 35 pips from plan 2843.5

4 feb

Trade chiuso: obiettivo raggiunto

Hit + 110 pips, Great plan