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02.05.202212:08 Analisis Forex & Kajian: Trading tips for gold

Exchange Rates 02.05.2022 analysis

A lot depends on the Fed meeting this week, where a significant increase in the interest rate and acceleration in the pace of monetary policy tightening could happen. Most likely, the decisions will strengthen the bullish trend in dollar, which, in turn, will negatively affect gold.

The yellow metal already closed with a pin bar last week, confirming its bearish trend.

Exchange Rates 02.05.2022 analysis

If the sell-offs continue, gold will most definitely drop to $1,675.

Exchange Rates 02.05.2022 analysis

The best move in that situation is to take long positions with fixed stop losses, or to pay attention to the trend and, if there are intraday signals, take a short position.

These plans are based on the Price Action and Stop Hunting strategies.

Good luck and have a nice day!

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Andrey Shevchenko,
Analytical expert of InstaSpot
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