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Traders and brokers are two parties who need each other, on the one hand traders need brokers to carry out foreign currency buying and selling transactions through broker's platforms, on the other hand brokers need traders to use their services, the more traders trade with large capital, the more high broker profits. For traders, choosing a reliable broker is very important so that their trading is comfortable and withdrawals are smooth, while brokers must maintain their best service so that traders will always use the broker's services.

Gold price is now at $2350 near the middle band line. in last week's trading, this price level became a resistance zone for gold with a high of $2364 on May 28. On D1 timeframe, gold prices are still moving between the middle and lower band lines, this reflects that prices tend to be below the downtrend line. The Bollinger band itself draws a flat channel with wide band spacing reflecting a sideways market in high volatility market. Another indicator MA 50 draws an ascending channel below the price reflecting an uptrend with weak momentum. Meanwhile, the RSI points to level 51, this means the price is moving slightly above the uptrend level. The price is currently near the highest point of 2364 which was formed on May 28, further increases are expected to reach this level or even higher as hopes increase for the Fed to cut interest rates after ISM manufacturing showed a contraction with actual data lower than forecast and previously.

The price of gold is now around $2324 near the MA 50 on D1 timeframe. Price moved between the middle band and lower band line towards the end of last week. Here the Bollinger band draws a flat channel with wide band spacing reflecting the possibility of price moving within the lower band range of $2289 and the upper band range of $2423. The 50 MA near the price is now drawing a slight rising channel reflecting a weak uptrend signal, the price cross line indicates a possible trend transition. On the other hand, the RSI indicator points to level 46, which means the price is below the downtrend level. On Monday, the US economic agenda featured the ISM Manufacturing PMI data for May, the previous value was 49.2 and the forecast was 48.8, if in release the actual value was greater than forecast usually good for currencies.

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The price of gold on Friday became very volatile after the release of Personal Consumption Expenditure (PCE) data with the actual data being 0.2% of the forecast value and previously 0.3%. The price of gold soared to $2359 after the release of the PCE but the increase did not last long, the price of gold fell again to a low level of $2320. Maybe many traders were trapped in this situation when gold breakout and then rose, many retail traders placed buy positions, but after a while the price stuck at $2359 and retail traders still hoped that the price would rise even higher, because the price then fell, many retail traders hit stop loss, there is a role for smart money there which is usually carried out by large institutions with very large transaction volumes.

Thousands of brokers in the forex industry offer services in forex trading, choosing a broker is very important by using a reliable and regulated broker to reduce the risk of broker scams that harm traders.

Yesterday the price of gold was corrected down to a low price level of $2322 before finally rising again and closing at $2342. The rise in gold prices follows the report of the release of a declining US GDP estimate. Annual US GDP growth in the first quarter was revised lower to 1.3% from the first estimate of 1.6%, according to data from the US Bureau of Economic Analysis, released on Thursday. The figure was below the 3.4% in the fourth quarter but was in line with analysts' expectations. Today, Friday, investors are waiting for an update on the release of the US core PCE index to measure Change in the price of goods and services purchased by consumers, excluding food and energy. Data Forexfactory shows forecast value is 0.3%, if in release an actual value higher than the forecast usually has a good impact on the currency Minneapolis Fed President Neel Kashkari surprised markets on Tuesday when he said Fed officials had not ruled out raising interest rates. He then added that if the Fed does lower borrowing costs, it would happen twice by the end of 2024.

Gold price yesterday drew a bearish candlestick with a lower low than the previous candlestick. After three days a bullish candlestick was formed on gold, yesterday the price decreased and formed a bearish candle. It seems that gold's bullish sentiment is still stuck at the high of $2362. When the price of gold reached this price level it then fell again to a low of $2334, this was lower than the previous low of $2340. This decline in gold prices may have been triggered by the US Dollar and bond yields rising as traders weigh bets on the Fed's interest rate cut for September. For more fresh clues, investors will look to the US core PCE price index data on Friday. The inflation measure chosen by the Fed is predicted to grow stably both monthly and annually, at 0.3% and 2.8% respectively. Data from CME FedWatch shows there is a decrease in the chance that the central bank will lower interest rates from the previous 57.5% down to 46%, reflecting investor confidence that the FED will lower interest rates is starting to fade. While one FED official, Minneapolis Fed Bank President Neel Kashkari said in an interview with CNBC broadcast, "I think the chances of us raising interest rates are quite low, but I don't want to take anything off the table."

Even though gold's price tends to draw a bull market, in the weak bullish stage, the price rose to the price level of $2364 but fell again to around $2358. Rising in gold prices may be caused by a weakening USD due to the Fed's reduction in estimates for lowering interest rates. Analysts estimate that the US central bank will start reducing lending rates in the last quarter of this year. Besides, gold imports to China via Hong Kong fell 38% in April compared with the previous month, according to data from the Hong Kong Census and Statistics Department. This week investors focus more on the US core Personal Consumption Expenditures (PCE) Price Index data for April, which will be published on Friday.

Gold prices tried to continue their recovery on Monday although, in the short term, they still had difficulty continuing their bullish streak. Gold prices rose yesterday from a low of $2332 to a high of $2358. Gold price movements are still below the $2400 level, which is gold's psychological level. This week, investors will focus on the United States' core Personal Consumption Expenditure (PCE) price index data for April and the Eurozone's preliminary inflation data for May, which will influence speculation on interest rate cuts by the Fed and the European Central Bank (ECB ). Market speculation is that the Fed may cut interest rates in September and still keep interest rates high because policymakers need more time until they are sure the 2% inflation target is achieved. This expectation has somewhat cooled investors even though high interest rates may cause a lack of liquidity in the market and affect the economy, thereby reducing demand for gold.

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I once tried using MT5 for demo practice but eventually went back to using MT4 when trading for real. For traders who rely on EAs or indicators on MT4, they have to convert files so they can work on MT5, this is a challenge in itself for those who don't have the expertise.

Today's gold price fell to the price level of $2326.91 from a high of $2383.67, it appears that the price is drawing a bearish candlestick with a long body reflecting the sharp fall in gold prices yesterday. Gold prices have dropped to a low of $2326, continuing Wednesday's decline after a short correction. The FOMC meeting minutes held last Wednesday which were attended by many Fed officials anonymously maintained high interest rates at 5% - 5.50%. According to Fed officials, inflationary pressure is still persistent despite the cooling. High interest rates hamper demand for gold because cash and bonds are more attractive to investors. The Fed even discussed the possibility of raising interest rates to tackle inflation. Analysts predict the Fed's high interest rates at least until September.

After the FOMC meeting minutes, the price of gold plunged from $2426 to a low of $2374. In the summary of meeting decisions, the FOMC unanimously decided at the meeting to maintain the benchmark short-term lending interest rate at 5.25%-5.5%. High interest rates are less supportive of gold because people prefer cash and bonds that provide higher yields. A summary of the meeting read, "Participants observed that although inflation has declined over the past year, in recent months there has been a lack of further progress in achieving the Committee's goal of 2 percent. The latest monthly data shows a significant increase in the goods and services of price inflation. "

Forex trading involves pairs of foreign currencies with other foreign currencies which always change every minute and even every second the currency rate can change. Traders gain from forex trading because of these changes when they are on the right track. The forex market is decentralized, all transactions are carried out electronically over the counter with high liquidity making it possible that every time a trader opens a buy there will always be someone selling.

Yesterday's gold price tended to move flat and drew a bearish candlestick with long shadows at the top and bottom of the candle which indicates an indecision candle. It seems that gold prices are entering a consolidation zone after a strong rally last week due to declining US inflation data. However, lately, Fed officials seem to be still hawkish and will keep interest rates high for longer, this may prevent gold from climbing higher. High interest rates are not good for gold and investors prefer cash or bonds that provide high yields. Recently CME FedWatch held the survey, and the results of the survey, the probability of the Federal Reserve lowering interest rates by 25 basis points in September increased slightly to 49.6%, up from 48.6%

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There are indeed many brokers in the forex industry, but choosing a reliable broker is still important for traders. All traders certainly don't want to fall into a broker scam and become victims, all traders want to make money from forex trading through a broker that is reliable and not a scam. Maybe each trader chooses a different broker, each has advantages and disadvantages, all tailored to the trader's own needs, for me, FXOpen is still the mainstay broker.

At market open Monday, gold rose to a high of $2,450 on news of the Iranian president's death. However, the rise did not continue and gold prices pulled back to reach $2407 as comments from Federal Reserve (The Fed) Deputy Chairman for Supervision Michael Barr suggested interest rates should remain at current levels for longer for inflation to return to target sustainably. Even though it fell to a low level of $2407, the price of gold rose again to reach $2436 and waved down again to $2423. The market seems to be consolidating, but several factors supporting gold include Instability in the Middle East region due to the death of the Iranian president, Ebrahim Raisi, and several other important officials due to a plane crash The Fed is likely to lower interest rates, this will also give a boost to gold Fractures in the world order encourage countries' central banks to buy gold for reserves. This can be seen from the ties between President Putin and the President of China during a recent visit to China, giving a picture of the cracks in the world order. BRICS members who no longer use USD choose gold as their reserve.

Maintaining risk tolerance in forex trading is very important to work in market chaos, discipline in applying trading rules is crucial for carrying out a trading strategy based on a trading plan, maybe discipline is a word that is easy to say but not all traders can do it well because of temptation by market volatility.

The price of gold still has the potential to be bullish above the $2400 price level. Last week, the price of precious metals, both gold and silver, surged after US inflation data showed cooling, giving hope that the Fed would cut interest rates. Market rumors predict the Fed might cut interest rates at its September meeting. On the other hand, China's improving economy shows positive reports which also boost gold prices because this country is one of the world's largest gold importers. In terms of geopolitical risks, gold is also one of the safe-haven assets of choice and is a global central bank reserve. The gold price has reached a new ATH and may still climb higher.

Gold prices failed to continue yesterday's bullishness and were stuck near the upper band line which then pulled back due to profit-taking. Gold prices rallied sharply after the CPI data was released with the actual data being lower than forecast. This data received a market response and caused the price of gold to rally strongly reaching a high of $2397 The release of cooler US Consumer Price Index (CPI) and Retail Sales data for April provides expectations for the future path of US interest rates, which is an important factor for Gold's value. The lower CPI data reflects disinflation which advances expectations that the Fed will cut interest rates. According to CME's FedWatch Tool, there is about a 75% chance that the Fed's interest rates will be at lower levels after the September meeting.

Whatever trading strategy is applied, risk management must always be a concern for traders, including trading gaps, however, gaps can reflect trend continuation or reversal, and anticipatory stop losses need to be set but profit targets are also a main concern.

Yesterday's gold price rose from a low of $2334 to a high of $2359. Apart from geopolitical events, gold is also the choice of central banks as a reserve asset. The BRIC countries have also abandoned the USD as a currency for international transactions, increasing demand for gold. The only obstacle is the Fed's interest rates which are still high, this causes people to prefer high yields to buying gold. Market concern to US inflation data today.

Gold prices fell after rallying last week, in trading on Monday the price of gold fell from a high of $2364 to a low of $2332. Prices may still consolidate ahead of the release of US inflation data which will be released on Wednesday this week. Inflation data is very important and will probably get a market response because it relates to the possibility of the Fed cutting interest rates or not.