Today's recommendation is for gold against the dollar



 the danger is 0.50%. Yesterday's buy trade triggered from both entry points and therefore the price didn't reach the target or stop loss.

 Best Buy Entry Points

 Enter a buy position from the present levels of 1842.00. Place the stop loss below the support levels of 1820.47. Move the stop loss to the entry area and continue the profit because the price moves by 20 points. Close half the contracts with a profit adequate to 20 pips and leave the remaining contracts until the strong resistance levels at 1870.78.

 Best selling entry points

 Enter a sell position with a pending order below 1801.28. the simplest points for putting a stop loss are above 1815.90 levels. Move the stop loss to the entry area and continue the profit because the price moves by 20 pips. Close half the contracts with a profit adequate to 25 pips and leave the remaining contracts until the support levels of 1760.18

 the worth of gold varied today, because the price rose slightly after early declines during Asian trading, in a way that the movement's momentum for gold slows down, as investors await two important events from us. As President-elect, Joe Biden is scheduled to unveil his incentive plan today, and at an equivalent time, investors followed abreast of Trump's impeachment measures

 Meanwhile, business optimism for 2021 has been tempered by the recent re-emergence of the Coronavirus within the US and therefore the “short-term implications for business conditions,” consistent with the so-called Federal Reserve's Big Book released on Wednesday.

 Meanwhile, most federal districts reported that economic activity has increased slightly since the previous Beige Book period. Two reported little or no change in activity, while two others noted decrease inactivity.


Gold Recommendations Today: Contrasted in weak trading with slowing momentum


 The Fed said: “Most regions reported that employment rose, although the pace was slow, and therefore the recovery remained incomplete. However, an increasing number of regions reported lower employment levels compared to the previous reporting period.


 On the technical front, gold fell during early trading today before bouncing from the second entry point laid out in yesterday's recommendation, at 1933.20. At the instant, we notice a slowdown within the movement of gold while anticipating political developments, but generally, we expect gold to rise as long as gold rallied above the rising line on the four-hour time-frame, despite the emergence of some signs of a decline in gold, where gold broke the 50 movement average on the hourly timeframe.

 We expect those levels mentioned within the buy recommendation to be the simplest entry points for gold while keeping the stop-loss point below 1820.44 levels. the valuable metal targets 1870.00 and 1878.56 within the short term, consistent with our expectations.



 We mention that the predominant expected trend for the valuable metal is to rise, especially with a large amount of cash printed within the stimulus programs around the world... Please adhere to the numbers within the recommendation with the necessity to take care of the management of capital

Post a Comment

Previous Post Next Post