- The price of gold is recovering from a 3-weekly lot in the middle of a safe demand.
- US pressure on Russia to solve Ukraine conflicts holding elevated risk.
- The EU-US Trading Agreement provides an incentive to the US dollar, keeping gold upside down.
The price of gold bounced three-week lower than 3,300 near 3,300 on Tuesday, during the European session. The recovery ranges from the review of the risk of risk by the merchant, predicting the decision of the FED policy this week.
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Mild return in the US dollar from multi-piece warms also helped customers facilitate some pressure. From now on, it came after four consecutive sessions fall. The demand for a safe haven for gold filed recently upside down because markets continue to digest trade between the United States and the EU.
On the other hand, the geopolitical risk remains elevated as President Trump set out a deadline for Russia in connection with progress in the conflict of Ukraine. Moreover, trading talks in the US also represent a confusing scenario for market participants.
Despite the gold leap, remains limited because the US dollar remains elastic, and the federal reserve is largely expected to hold rates longer. Fed is expected to continue to rates unchanged at their meeting on Wednesday. However, traders will be more interested in the statement of the Fed Hotel, which will reveal monetary policy.
Key events for hunger for watching
Today we have only a Jolt job of opening data from the US, which is expected to cool modestly. As a result, gold can find further support. Meanwhile, market participants want to pay for US data, NFP and Core data, because these collectively shape economic health, helping foods find the path of politics for the future.
Technical Analysis of Gold Price: Weak Attempt Bul
The four-sea chart shows the golden strong bear moment until recent candles reveal a strong bear Zanovčić, breaking the level of support. Recent small candles are corrective, a broken level returned. The value of the RSI appeared from the level of overvoltage, stinging close to 40.0, which shows gold is still not out of the forest.
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Meanwhile, the key average of movements have already formed bears cross and lie well above the price. It shows the potential of Downside, but level of $ 3,300 is the main customer support. On a level of level, the price can be cut off to another level of support at 3,284 USD forward from $ 3,248. On upside down, $ 3,350 remains strong resilience.
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