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Gold Updates by "Solid ECN"
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[QUOTE="Solid ECN, post: 206936, member: 83167"] [HEADING=1][JUSTIFY]XAUUSD, gold develops the uptrend[/JUSTIFY][/HEADING] [HR][/HR] [JUSTIFY]XAUUSD shows moderate growth during Asian trading, testing the level of 1960 again. The day before, the instrument has already made attempts to consolidate above it, having updated local highs from March 14. Gold prices briefly rose to a monthly high on fears of increased inflationary risks in Europe and the United States, which was the reason for the purchase of the metal, but closer to the end of the Monday afternoon session, the "bulls" lost most of their gains. Financial markets are under pressure from geopolitical tensions and the desire of central banks to tighten monetary policy amid soaring consumer prices and associated fears of a recession. This, in turn, continued to benefit traditional safe-haven assets and pushed spot prices higher into the area of 1958 - 1960. The US dollar is also stable and is hovering around high levels around 100 in the USD Index. Tomorrow, investors are waiting for the publication of inflation data from the US. Despite a number of active measures taken by the US Federal Reserve to contain it, analysts expect the annual value to accelerate to 8.4% in March. The biggest contributor is likely to come from higher energy prices as commodity markets surged to new record highs due to the sanctions policy against the Russian economy. According to the published minutes of the meeting of the Federal Open Market Committee of the US Federal Reserve (FOMC), the regulator intends to reduce the balance sheet by 95 billion dollars every month, starting from May of this year, and accelerate the rate of interest rate hike to 0.50%. In general, officials are optimistic about changing the current parameters to fight inflation, believing that the US economy is strong enough not to experience a recession in the face of geopolitical tensions. [/JUSTIFY] [ATTACH type="full"]21090[/ATTACH] [JUSTIFY]Bollinger Bands in D1 chart show moderate growth. The price range is slightly widening slightly but does not conform to the development of the "bullish" sentiment yet. MACD indicator is growing, while preserving a rather stable buy signal (located above the signal line). Stochastic is showing similar dynamics; however, the indicator line is approaching its highs, indicating the risks of overbought instrument in the ultra-short term. [B]Resistance levels[/B]: 1,974, 2,000, 2,015, 2,030 | [B]Support levels[/B]: 1,952, 1,930, 1,900, 1,877[/JUSTIFY] [ATTACH type="full"]21091[/ATTACH] [/QUOTE]
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