Good Morning All!
Now find out the DEEP analysis & research for Gold Market investment update for you:
The old analysis and the price have also broken through the medium-term downtrend line that we analyzed 2 weeks ago, it is true that only sooner or later is still the mainstream. The wave is going up and down with a large amplitude, so watch carefully before making a decision to avoid as many people have lost money because the wave was too strong and now there are many signals to reduce fake. We will come back to the weekly analysis more closely so that everyone can refer to and offer trading directions for the new week.
Gold basic analysis old week overview and new week orientation:
The world gold price has reached the highest level in nearly 8 years.
– Gold price increased sharply because the number of unemployed people in the US showed signs of rising again.
– Gold price continues to peak in the context of US-China tensions escalating and the possibility of large budget deficits of the US economy.
– Gold is also supported by the quantitative easing policy of the US Federal Reserve – Fed, and the target of interest rates maintained at 0%.
– Although US Federal Reserve Chairman (Jerome Powell) has overshadowed the prospect of bringing interest rates back to negative, the quantitative easing will be unlimited and interest rates holding the zero zone in the near future will continue. support for world gold prices to go up.
– U.S.-China tensions continue to escalate when President Trump declares he doesn’t want to talk to Chinese President Xi Jinping, showing his relationship with Beijing is deteriorating rapidly because of COVID. -19. The US president affirmed that if he now severs his relations with China, the US could “save $ 500 billion”.
– Remarkably, the price of gold seems to have just started because up to this point, gold is still considered as the safest haven and continues to bring profit to investors. The context of economic uncertainty, budget deficit as well as bonds yield low yields.
Gold technical analysis old week overview and orientation for the new week-
On the W chart, everyone can see that Gold closed the weekly candle with a relatively good bullish candle and formed a continuing bullish pattern. Currently, gold is still supported in the context of US-China tensions escalating and the possibility of large budget deficits of the US economy. In opinion, at the beginning of the week, if there is a signal from the downward adjustment candle, it is likely that Gold will drop to 1730 or deeper than 1700-1720 but it is not except TH, so it is possible that Gold may go up early in the week so sell. At the moment, it is still risky, We still remind everyone that they should wait for signals from the new market to trade Buy or Sell because of the relatively large margin.
– On the H4 chart, drawn two yellow areas which are the support areas for the gold price to go up when there is a signal. The second yellow zone will be the area where the price heading to retest the falling trendline has broken last week but to be able to decline here next week will probably be relatively difficult. In order to have a specific and safe entry point, at the beginning of the week, We will analyze more carefully when there are direct signals from the market for everyone to refer to. Please remember to follow the paid signals of Money Life Research.
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