#Gold- New low and r...from Ghulam Ali

#Gold- New low and reversal after? As I said yesterday, Gold is approaching a very strong support level, and considering the 1k pips drop in only a few days, a correction is probable. Yesterday's price action was very volatile, also suggesting the bottom is near. Although XauUsd could correct up without making a new low, considering the trend is strongly down, from money management and R:R perspective, only a buy in 1805-1810 would make sense. That being said, I'm looking to buy dips for a new

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#Dxy looks tired I've been bullish DXY since the end of July after we had the confirmation that the break down was a false one and indicated the 105.50 zone as the potential target in the medium term. The target was hit last week and now the index is consolidating and a correction could follow. However, the trend remains up and a new spike above the recent high is possible. Confirmation for a drop comes with a break under the rising wedge support in which case 104.50 could be bears' target.

Ghulam Ali

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Ghulam Ali

Spot gold market analysis on September 22, 2023 Plan① Shorting near 1924, stop loss 1932, take profit 1914, 1908, 1902 Plan② Stand firm at 1932 and go long with light positions, stop loss at 1927, and take profit at 1938, 1946 [Disclaimer: The above analysis only represents the author's personal views and does not constitute specific operational recommendations. You are responsible for your profits and losses. Investments are risky, so you need to be cautious when entering the market. 】

Ghulam Ali