Gold Under Pressure After The Fed's Statement
Gold moved in the $3339 area during the European session on Thursday (08/05) amid news that United States (US) President Donald Trump is expected to announce a trade agreement with the United Kingdom (UK).
Another factor is that the Federal Reserve maintained interest rates, and Chairman Jerome Powell said the central bank was in no hurry to cut despite the uncertainty of the trade war.
Until this news was released, the price of Gold was at $3,339
RECOMMENDATION
- Buy if the price moves to $3,344
- Sell if the price moves to $3,334
Resistance Level 2: $3,349
Resistance Level 1: $3,344
Support Level 1: $3,334
Support Level 2: $3,329
Note: This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id