Gold Trend Analysis over H1 Chart
Updated
Overall Gold is in Uptrend,
THREE FACTORS DRIVING GOLD
1) Increasing COVID cases in EUROPE and fresh locksdowns.
EFFECT : POSITIVE FOR GOLD
2) FED CHAIRMAN selection ( set for Tuesday)
EFFECT : POWELL - HAWKISH (GOLD DOWN)
BRAINARD - DOVISH ( GOLD UP)
3) Growing speculation on FED intervention due to increasing Inflation.
Looking for short term selling opportunities.
THREE FACTORS DRIVING GOLD
1) Increasing COVID cases in EUROPE and fresh locksdowns.
EFFECT : POSITIVE FOR GOLD
2) FED CHAIRMAN selection ( set for Tuesday)
EFFECT : POWELL - HAWKISH (GOLD DOWN)
BRAINARD - DOVISH ( GOLD UP)
3) Growing speculation on FED intervention due to increasing Inflation.
Looking for short term selling opportunities.
Trade closed: target reached
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.