Gold in Europe Begins to Show Its Strength
Gold's appeal is increasing as traders prepare for the Federal Reserve's interest rate decision on May 7. Over the weekend, Trump again expressed his dislike for the Fed and its Chairman Jerome Powell. After calling Powell "tough", the US President asked members of the Federal Open Market Committee (FOMC) to pressure Chairman Powell to cut interest rates.
When this news was released, the price of Gold was moving at the level of $ 3296, seen from the fundamental side, Gold still has the drive to increase.
RECOMMENDATION
- Buy if the price moves to $ 3,306
- Sell if the price moves to $ 3,286
Resistance Level 2: $ 3,321
Resistance Level 1: $ 3,306
Support Level 1: $ 3,286
Support Level 2: $ 3,271
Note:
This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id