XAUUSD IDEA
XAUUSD is faltering a bit due to high risks before the news. In the moment a strong impulse can be formed. The price is consolidating in the local range. Earlier, the price broke the local upward support...
📌Traders are consolidating in anticipation of economic data. Volatility is decreasing, speculators are not ready to take risks yet, all attention is focused on NFP today. China's ongoing economic problems and the threat of global tariffs from Trump, geopolitical tensions in eastern Europe and escalating conflict in the Middle East continue to weigh on investor sentiment.
The future direction of the gold price is likely to depend on upcoming employment data and its impact on expectations of a Fed rate cut🏓
Resistance levels: 2660, 2655,2666
Support levels: 2634, 2618, 2605
Since there is no even direction on the market and the price is inside the channel, we will consider trading from its borders. Therefore, a false break of the key resistance may provoke a fall to the support of the range.☄️
📌Traders are consolidating in anticipation of economic data. Volatility is decreasing, speculators are not ready to take risks yet, all attention is focused on NFP today. China's ongoing economic problems and the threat of global tariffs from Trump, geopolitical tensions in eastern Europe and escalating conflict in the Middle East continue to weigh on investor sentiment.
The future direction of the gold price is likely to depend on upcoming employment data and its impact on expectations of a Fed rate cut🏓
Resistance levels: 2660, 2655,2666
Support levels: 2634, 2618, 2605
Since there is no even direction on the market and the price is inside the channel, we will consider trading from its borders. Therefore, a false break of the key resistance may provoke a fall to the support of the range.☄️
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