👑 Ideas For XAUUSD / GOLD
📈 GOLD → The market is waiting for news. Falling or rising?
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#XAUUSD has been standing still for a few days, as well as the DXY. The market is waiting for today's news related to GDP and unemployment. What is the difficulty in determining the future direction of the price?
📈 GOLD → The market is waiting for news. Falling or rising?
➖➖➖➖➖➖➖➖➖
#XAUUSD has been standing still for a few days, as well as the DXY. The market is waiting for today's news related to GDP and unemployment. What is the difficulty in determining the future direction of the price?
Let's start with the fact that since last week the Fed destroyed the adequate price behavior for the medium term. The dollar, based on data, not rumors, should rise, gold should fall, but that is not the case. There is a possibility that this manipulation by the market maker to take more favorable positions before further movement in one direction or another.
Today the US GDP (rlinda . com) and unemployment are published. Analysts expect GDP to remain flat at 5.2% and Initial Jobless Claims to rise from 202K to 214K (a generally bearish scenario for the dollar). If:
• GDP comes out lower than expected and Initial Jobless Claims higher than expected, the dollar could fall.
• Accordingly, if GDP rises and unemployment falls, the dollar will probably go up. The movement of the indices will affect the gold accordingly
Resistance levels: 2038, 2050
Support levels: 2030, 2020
From the TA + fundamentals point of view, the market is confused, hence a sideways flat, which can be interpreted as neutral forces (obviously). (rlinda . com) There is a high probability that the dollar could still get stronger. In this case gold may test the resistance before further falling. But news is always unpredictable!
Today the US GDP (rlinda . com) and unemployment are published. Analysts expect GDP to remain flat at 5.2% and Initial Jobless Claims to rise from 202K to 214K (a generally bearish scenario for the dollar). If:
• GDP comes out lower than expected and Initial Jobless Claims higher than expected, the dollar could fall.
• Accordingly, if GDP rises and unemployment falls, the dollar will probably go up. The movement of the indices will affect the gold accordingly
Resistance levels: 2038, 2050
Support levels: 2030, 2020
From the TA + fundamentals point of view, the market is confused, hence a sideways flat, which can be interpreted as neutral forces (obviously). (rlinda . com) There is a high probability that the dollar could still get stronger. In this case gold may test the resistance before further falling. But news is always unpredictable!
