XAUUSD- Identify trends for today
Updated
Gold Analysis November 13th – Let’s move on to the inflation data. Gold came under downward pressure last week even as the U.S. jobs report showed signs of cooling, but Fed officials, including Fed Chairman Powell, said last week that just one bad jobs report wasn't enough to make the situation worse. It was not enough to turn things around and warned that gold prices were poised to rise. interest rate to raise inflation to the 2% target. US inflation statistics will be released this week. If this data exceeds market expectations, the Fed could raise interest rates further in December. However, if the published data turns out to be weaker than expected, the Fed's rate hike cycle could end. Regarding the technical aspects. Gold came under strong downward pressure last week. It is currently below the 1947-1950 resistance zone, suggesting downward pressure on gold may continue. You can sell gold in this resistance zone during the day. Alternatively, you can buy gold near the 1933 support zone. Estimated period: 1933-1947. Reference strategy:
Buying and selling gold using the near margin approach is 1933-1947, stop 1928, TP 2000.
Buying and selling gold using the near margin approach is 1933-1947, stop 1928, TP 2000.
Note
💵 SELL XAUUSD 1940 - 1942 💵🔼TP1 1935
🔼TP2 1932
❌ SL 1947
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