Gold prices weakened in the morning Today, taking limited support from increased expectations of U.S. interest rate cuts as traders awaited more cues from the Federal Reserve and U.S. economy this week. Gold remained squarely within a trading range established through most of June, also making little headway as the dollar sank.
Spot gold fell slightly to $2,325.74 an ounce, while gold futures expiring in August fell 0.2% to $2,336.05 an ounce
CURRENTLY GOLD IS MOVING ON DOWN TREND.
Expecting correction up to 2330.84
Today’s important levels for trading are 2337.67, 2328.34, 2316.92 and2307.59
Trading Strategy for today: Sell On Rise
Trade setup:
Pullback Sell around 2330.50 Higher Sell around 2337.50
Safe swing sell below 2317.50
Safe swing buy above 2343.50
Important Event :
🟠 Final Manufacturing PMI
🔴 ISM Manufacturing PMI
🟠 ISM Manufacturing Prices