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Important news for today

Current dynamics  XAUUSD

Gold prices are slightly declining during today's Asian session, developing a "bearish" signal, formed at the end of last week, but staying within the local minimums, updated on September 21. Gold is depreciating amid a growing dollar, which has received support from the difficult situation with COVID-19 in Europe, where some countries are seriously considering returning some of the quarantine restrictions. American investors are also worried about the prospect of new stimulus measures in the United States, which have been the subject of the most heated debate for a long time.

This week, Fed Chairman Jerome Powell and US Treasury Secretary Stephen Mnuchin will hold a series of speeches in Congress, where they will talk about their vision of the current economic situation. Mnuchin's speech attracts the most attention to himself, since Powell's position is well known to the markets and it is unlikely that the head of the Fed will say anything new.

Support and resistance levels

 The price range is actively expanding, but it is not keeping pace with the development of the downward dynamics in the short term.

The current readings of technical indicators do not contradict the further development of the downward dynamics for gold.

Resistance levels: 1895.06, 1910.00, 1935.00, 1955.00.

Support levels: 1876.23, 1.861.68, 1850.00, 1830.00.

At the daily timeframe for the 200 MA, there is still an uptrend, which is likely to continue after the current correction.

The most significant and solvable level will be 1.859

At the moment, within the framework of the current situation, it is possible to join sales after the correctional price increase.

And at this the review came to an end. I wish you profitable trades, remember that your success should not depend on any one trade, you need to try to be in the black at the distance, and for this it is enough to earn only 3 out of 10 trades, how? - your reward to risk ratio should be more than one to three. Therefore, always remember about the     📈  risk (use EasyTradePad for easy calculate risk and placing orders) , consider it correctly and then your trading will be successful! Wish you a successful trading day your SeniorTrader.

In order not to miss the following market overview, as well as to be aware of the news of the project SeniorTrder 🤝 add me in friends list in mql5 and Subscribe to our telegram channel  👉Telegram Channnel https://t.me/SeniorTrader_Channel

Tools that I use in trading

Easy Trade Pad

Free version https://www.mql5.com/en/market/product/54895 (work only EURUSD)
Full version https://www.mql5.com/en/market/product/47587  

iPump indicator