As discussed throughout my Friday's session commentary: My position: Sole factor which can reverse Intra-day trend to Bearish is NFP announced later on throughout the session. I do however expect upside surprise on NFP where I might re-Sell Gold as Higher as I can ahead of the announcement testing #2,900.80 benchmark or Support zone below, however regardless NFP or not I do expect to continue Medium-term Bullish trend on the aftermath of the event (early next week). Trade accordingly.
Technical analysis: According to my preliminary expectations, Price-action was not able to close back below the #2,900.80 benchmark and it was Natural to expect prolonged strength on Gold. DX on the other hand reacted negatively to Powell’s testimony and Tariff's speculations which limited Gold from further decline (as well as preserving the Neutral Rectangle) and almost Bought back all previous losses. However, the underlying trend (Bullish) can be confirmed in the visible fact that Gold did not react as proportionally as it should to the fall of the DX (sequence last seen on June #15).
My position: I will continue Trading the #2,892.80 - #2,922.80 range, Buying every Low's / dip on Gold unless one of the major break-out points is compromised.
Technical analysis: According to my preliminary expectations, Price-action was not able to close back below the #2,900.80 benchmark and it was Natural to expect prolonged strength on Gold. DX on the other hand reacted negatively to Powell’s testimony and Tariff's speculations which limited Gold from further decline (as well as preserving the Neutral Rectangle) and almost Bought back all previous losses. However, the underlying trend (Bullish) can be confirmed in the visible fact that Gold did not react as proportionally as it should to the fall of the DX (sequence last seen on June #15).
My position: I will continue Trading the #2,892.80 - #2,922.80 range, Buying every Low's / dip on Gold unless one of the major break-out points is compromised.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.