Gold → continue to downward movement

hello guys...

gold is at the bottom of an ascending channel so we can consider a little upward movement from here!

but from my point of view, I think it would continue to downward movement from 33% (the drawing arrow) or 50%(the blue area) of the last leg!

targets is indicated in the chart are:
2285
2255
2222

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Kommentera:

fundamental news:


Gold prices (XAU/USD) show a slight negative trend after pulling back from recent two-week highs during Friday's European trading session. Investors are cautiously awaiting the U.S. Nonfarm Payrolls (NFP) report, which is expected to significantly influence the Federal Reserve's policy decisions and impact gold prices. Rising expectations of a Fed interest rate cut in September, supported by softer U.S. macroeconomic data, continue to buoy gold prices. Additionally, dovish Fed expectations are keeping U.S. Treasury bond yields and the U.S. Dollar near multi-week lows, which helps limit gold's downside. Geopolitical tensions in the Middle East also suggest that gold's price is more likely to rise.

Kommentera:

the first blue area touched:

Trade stängt: målet nått:

the second blue area touched the target