Today the market focuses on US retail sales data released at 19:30 tonight. If actual data released exceeds expectations, gold will be under downward pressure; conversely, if actual data released will be weaker than expectations, gold will be supported to increase.
About the technical angle.
Gold, after falling to the 61.8% Fib zone of the previous increase around 2310, has bounced back and is currently moving above the 2320 zone.
Support: 2315 - 2308 - 2300 - 2291 - 2286 - 2280- 2274
Resistance: 2333 - 2338 - 2345 - 2350 -2365
🔴SELL ZONE 2348 - 2350 stoploss 2353
🔴SELL ZONE 2364 - 2366 stoploss 2369
🟢BUY ZONE 2306 - 2304 stoploss 2301
🟢BUY ZONE 2300 - 2298 stoploss 2295
Scalping strategies will be taken until the resistance - support zones above have an entry signal.‼️
About the technical angle.
Gold, after falling to the 61.8% Fib zone of the previous increase around 2310, has bounced back and is currently moving above the 2320 zone.
Support: 2315 - 2308 - 2300 - 2291 - 2286 - 2280- 2274
Resistance: 2333 - 2338 - 2345 - 2350 -2365
🔴SELL ZONE 2348 - 2350 stoploss 2353
🔴SELL ZONE 2364 - 2366 stoploss 2369
🟢BUY ZONE 2306 - 2304 stoploss 2301
🟢BUY ZONE 2300 - 2298 stoploss 2295
Scalping strategies will be taken until the resistance - support zones above have an entry signal.‼️
Note
BUY ZONE 2306 - 2304 +220pipsNote
BUY 2306 +600pipsSELL 2348 - 2350 +20pips
SELL 2364 - 2366 + 150pips
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.
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.