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GOLD → How will the news affect the price?

2024-01-18 09:49 GOLD Forecast

👑 Ideas For XAUUSD / GOLD

📈 GOLD → How will the news affect the price?

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GOLD is updating a low of 2001.9 and forming a correction in a phase of waiting for news to be released at 13:30 GMT

snapshot

At 13:30 Initial Jobless Claims will be published - analysts expect that the index may show worse data than in the previous period, and also, it is worth paying attention to Bostic's comments (FOMC), who will speak three times today: 12:30, 16:30, 17:05. The FOMC representatives have been making a lot of speeches this week.

Technically, gold is forming a correction and consolidation in a low-volatility format, which may last until the news is released. It is impossible to determine the data in advance, but there are assumptions that the dollar index will continue its growth, in which case, gold may continue to fall after a retest of resistance. The moving averages indicate the continuation of the bearish trend.

snapshot

Resistance levels: 2013.7, 2016.8, 2025

Support levels: 2004.5, 1994.7, 1976.2

Technically, gold is in a downtrend and on the backdrop of the news may test resistance to capture liquidity before further declines

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