GOLD TRADE IDEA 09 JAN 2023
GOLD TRADE IDEA AND UPDATE DATE 09 JAN 2023
GOLD CURRENTLY INSIDE THE DOWNTREND CHANNEL , STILL BULLISH ON DAILY TIME FRAME
The Nonfarm Payrolls report showed the United States created 216K new jobs in December,|
while the Unemployment rate held steady at 3.7% according to the US Bureau of Labor Statistics (BLS), both readings beating expectations.
Average Hourly Earnings rose to 4.1% YoY from 3.9% in November.
The upbeat report gave the US Dollar a near-term boost, as it meant the Fed would need to maintain rates at current levels for longer than previously anticipated.
We are still playing the same sentiment of bullish dollar and bearish gold
Intraday Bias - bearish
Trade idea for the day
Pullback sell @ 2036.5
Safer sell on break below 2027
HR HR sell @ 2049
HR HR buys @ 2017
Short term buys on break above 2040
GOLD CURRENTLY INSIDE THE DOWNTREND CHANNEL , STILL BULLISH ON DAILY TIME FRAME
The Nonfarm Payrolls report showed the United States created 216K new jobs in December,|
while the Unemployment rate held steady at 3.7% according to the US Bureau of Labor Statistics (BLS), both readings beating expectations.
Average Hourly Earnings rose to 4.1% YoY from 3.9% in November.
The upbeat report gave the US Dollar a near-term boost, as it meant the Fed would need to maintain rates at current levels for longer than previously anticipated.
We are still playing the same sentiment of bullish dollar and bearish gold
Intraday Bias - bearish
Trade idea for the day
Pullback sell @ 2036.5
Safer sell on break below 2027
HR HR sell @ 2049
HR HR buys @ 2017
Short term buys on break above 2040
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