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Gold Technical Analysis

On the daily chart below for Gold, we can see that gold is pulling back all the way down to our projected target at the 1934 level where we can also find the 50% Fibonacci retracement level and the trendline. The correction started once Gold reached the record high at 2076 and we got a hot NFP report. Given that the Fed left a door open for another hike in case the data remained strong, the market started to reprice interest rates expectations on the hawkish side due to several better-than-expec... Read More

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Content Topics

Gold

Technical

Analysis

Forex

Posted: May 25 2023, 09:40

Author Name: forexlive

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