Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
21 November 2024,02:21
Trade Of The Day
Tags:
21 November 2024, 02:21
* Safe-Haven Bid: Gold prices have surged against the dollar, driven by increased safe-haven demand amid escalating tensions between Russia and Ukraine. Recently, Moscow lowered its threshold for nuclear retaliation in response to Ukrainian attacks. This decision came after reports that the U.S. had approved the use of long-range missiles by Ukraine against Russia, which Moscow warned could lead to a severe escalation of the conflict. Despite this, Russian Foreign Minister Sergei Lavrov emphasized that the country would strive to avoid nuclear war. However, hostilities between Russia and Ukraine continued, with both sides launching destructive attacks over the past week.
* Technical Breakout: Gold price was traded higher following prior breakout above the previous resistance level 2625.00. MACD which illustrate bullish momentum signal suggest the commodity to likely extend its gains.
* Resistance and Support: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 2685.00. Conversely, a potential reversal is also to be expected and the price could head back towards 2625.00.
With little significant U.S. economic data, investors are expected to focus on developments in the Middle East conflict and Russia-Ukraine tensions to assess sentiment for the safe-haven commodity.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US data, geopolitical conflicts, central bank updates and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
Register For PU Xtrader Challenge And Start Prop Trading
Take Challenge
Trade with simulated capital and earn real profits after you pass our trader assessment.
21 November 2024, 02:21 Gold Rises Amid Escalating Russia-Ukraine Tensions
20 November 2024, 02:13 USD/JPY Gains Amid Doubts Over BoJ Rate Moves
19 November 2024, 02:42 Canadian Dollar Gains Ground as U.S. Dollar Pauses
Disclaimer: This website exclusively provides proprietary trading services. We do not engage in any regulated activities, offer investment management services, or manage funds on behalf of external clients. Our trading activities are conducted solely with the firm's own capital, and we do not accept client deposits or manage client accounts. It's important to note that none of the services we provide should be construed as investment or financial services in accordance with applicable laws.
This website offers services related to professional skill and experience assessment, which determine your eligibility to trade with the firm's capital. The outcome of these services is inherently determined by your individual skill level and ability to perform within the trading requirements and objectives outlined for each service separately. Clients are strongly advised to thoroughly understand the requirements of the services before signing up for any.
The content provided on this website is for informational purposes only and does not constitute financial, investment, or trading advice. The information presented is based on sources believed to be reliable, but we do not guarantee its accuracy, completeness, or timeliness. We disclaim any liability for any loss or damage arising directly or indirectly from the use of or reliance on the information provided on this website.
This website is not directed to residents of certain jurisdictions such as the United States, Singapore, Australia, China and some other specified regions, and is not intended for distribution to, or use by, any person in any countries or jurisdictions where such distribution or use would be contrary to local law or regulation.
