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Gold goes down due to the dollar after Powell's comments



Gold prices were $ 5.97 Wednesday after Wednesday, after losing three sessions, after two weeks of the dollar, the Federal Reserve's chairman Jerome Powell said the interest rates "under the neutral table in the economy," prompting the US central bank to raise rates to the cycle. The GDP increased by 3.5% annually, the Commerce Department said in its estimation of its second quarter growth. The Commercial Department also said sales sales accounted for 8.9% in October of 544,000 for October. Vendors will have FEDC minutes of meetings in Fed in September and current news later on to tighten the Bank's tax policy.

The USD / USD pair returns 1225.30-1224.80 to the area after the expected price is more than 1220.50.50. The market is marketed below the Ichimoco gem H1 andM30, Indicating that the market will be crossed again 1225.30-1224.80. If the upward movement penetrates into the four-hour frame and rises above yesterday, we can test the strategic resistance of 0/1232. Then the field 36/1240 stands out as a strong technical resistance.

XAUUSD a day

However, if the price is maintained within four hours of the cloud, the area should be controlled 1222-1221.30. At the top of the cloud at the time frame is 1220-1219.50, the upward movement drags the underlying price to challenge 1217.80 levels. From this level, the downhill will go to the 5/1216 field.

XAUUSD h4


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