LIGHTNING-RAPID UPDATE 🕯 Gold (XAU/USD) 🟡 SL 🔑 @: 4311.57 TP ✅ @… — 🇬🇧 SmartTrader TRIAL - Fundamental Market Research & Analysis — TG.ME

LIGHTNING-RAPID UPDATE

Gold (XAU/USD)
SL 🔑 @: 4311.57
TP @: 4397.79

We found a near-perfect re-entry in Gold overnight / during Asian trading and are now seeing a strong rebound. Gold is also benefiting from weaker-than-expected ADP employment data, the cooling in oil prices following yesterday’s sharp gains, and limited upside in the USD despite still-elevated expectations for Fed rate hikes and elevated oil prices.

For now, we can widen our TP slightly and thereby close our overall Gold position in profit if the TP is reached. We are also setting an SL 🔑.

More broadly, we are seeing gains in metals and commodities as investors increasingly move into “hard” commodities amid ongoing expectations of scarcity and strong demand. Silver is up around 2% today - Gold around 0.9%.

Also slightly positive for Gold: The Bank of Japan has just intervened again. This weighed somewhat on the USD and pushed the JPY significantly higher.


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We are buying this sharp dip in USD/JPY, although EUR/JPY would also be a good option:


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LONG (BUY)

USD/JPY
TP @: (ONYL VIP

)

HIGH volatility; BoJ intervention

Recommended Entry Range 158.350 - 158.550

HIGH VOLATILITY


position code / 100% Transparency - 26090201B


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