GOLD MOVEMENT PRICE SURGE
i was wondering why the price for gold has surged so much through out the day with no major retracement as i thought it wouldve atleast bounced off the 2530 line yesterday, so i started looking into news and seen the unemployment claims where greater then the forecasted and then i looked at how it would affect the dxy and seen that their was a correlation between the dxy dropping off yesterday and gold so i decided to draw some lines on the dxy aswell
https://www.tradingview.com/x/z2Hhb7CD/ here we see the dollar index and i had marked up a couple major areas of support and resistance and can see that the dxy has reached a major area of support so im looking for a bounce of it next week and a retracement on gold to 2530 might happen aswell next week
https://www.tradingview.com/x/z2Hhb7CD/ here we see the dollar index and i had marked up a couple major areas of support and resistance and can see that the dxy has reached a major area of support so im looking for a bounce of it next week and a retracement on gold to 2530 might happen aswell next week
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.