Our free forex signals service trade today is a sell order on gold. The metal will go down if the USD continues its upside correction. The gold price moves sideways in the short term. The current range could represent a distribution pattern if the price extends its sell-off. The pressure is high as the USD is strongly bullish. –Are you interested in learning more about ETF brokers? Check our detailed guide- The Dollar Index erased its minor drop, and now it seems determined to reach new highs after Fed Chair Powell’s hawkish speech. As you already know, the Federal Reserve is expected to hike rates in the upcoming monetary policy meetings. A 0.50% rate hike is in the cards in May. That’s why the USD dominates the currency market. On the other hand, the XAU/USD failed to confirm an upside continuation. Now, it could resume its drop if the price makes a new lower low. Fundamentally, the price of gold rebounded yesterday also as the US Unemployment Claims and the Philly Fed Manufacturing Index came in worse than expected. US Flash Manufacturing PMI 58.1 expected Today, the US data may bring more action. The Flash Services PMI is expected to remain steady at 58.0 points, while the Flash Manufacturing PMI could drop from 58.8 to 58.1 points, signaling a slowdown in expansion. From the technical point of view, the price of gold could extend its sell-off if it drops and closes below 1,936.82 Get FREE Forex Signals Now! 3 Free Forex Every Week – Full Technical Analysis Free forex signals – Sell gold at 1,935.46 Free forex signals entry price and take-profit Instrument: Gold Order Type: SELL STOP Entry price: 1,935.46 Stop Loss: 1,960.96 TP1: 1,894.75 My Risk: 1% Risk / Reward Ratio: 1:1.6 Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Forex Trading Signals share Read Next EUR/USD Price Pares ECB-Led Gains as Powell Gears up with Hawks Olimpiu Tuns 6 days Our free forex signals service trade today is a sell order on gold. The metal will go down if the USD continues its upside correction. The gold price moves sideways in the short term. The current range could represent a distribution pattern if the price extends its sell-off. The pressure is high as the USD is strongly bullish. -Are you interested in learning more about ETF brokers? Check our detailed guide- The Dollar Index erased its minor drop, and now it seems determined to reach new highs after Fed Chair Powell’s hawkish speech. As you already know, the Federal Reserve… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
