The dollar strengthened on the news collapsed the gold rate

  • Jun 17 2021
  • by
  • Analyst AZA
The dollar strengthened on the news collapsed the gold rate

The Dollar strengthened on the news collapsed the Gold rate

At the time of today's news release, the US dollar became so strong that in a few hours the rate of Gold, Euro, Canadian dollar and Swiss franc collapsed in forex. After a long stagnation, the entire market started to move. Price changes are the best opportunity for a trader to make money. For those traders who did not have time to enter the market, there is the last opportunity to open a position in the continuation of the trend. The market is very active right now and it will be very difficult to place a narrow stop loss, but such strong price movements rarely reverse abruptly. The MACD indicator is not yet showing divergence and the price is below the 200 average, which gives us reason to believe that the fall in the price of GOLD will continue. We also want to draw your attention to the Japanese Yen, which has strengthened in price, which has strongly won back new positions and also turned some trends in its direction.

Symbol: XAUUSD
Order Type: Pending Order - Sell Stop
Entry Price at 1767.00
Take Profit at 1750.00
Pips Earning: 1700

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The profit can be $1700.00 if the trading volume of 100 Tr. Oz.

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