XAUUSD (GOLD) Week 50 (11-15/12/2023) H4 chart
Plan gold week 50 (December 11-15, 2023)
The NFP report published on December 8, 2023 shows that all 3 US economic data are good, showing that the US economy continues to recover and grow well, increasing the strength of the USD (DXY) and putting downward pressure on prices of GOLD. With this downward momentum, gold can easily find its way to the 1965 area and 1935 zones.
Week 50 is expected to be a highly volatile week with a lot of important economic and financial news such as CPI, PPI and especially the FED's interest rate announcement at the FOMC meeting.
Main trend: down, mainly focus on finding entry to sell
Plan:
1. Plan sell
+ Sell 2009-2013 SL 1015
+ Sell 2019-2021 SL 2024
TP 1995 1990 1965 1935
2. Plan buy
+ Buy 1990-1993 SL 1988 TP 2004 2009 2014
+ Buy 1965-1968 SL 1962 TP 1977 1990
+ Buy 1933-1935 SL 1930 TP 1955 1960 1965 1990
Good luck!
The NFP report published on December 8, 2023 shows that all 3 US economic data are good, showing that the US economy continues to recover and grow well, increasing the strength of the USD (DXY) and putting downward pressure on prices of GOLD. With this downward momentum, gold can easily find its way to the 1965 area and 1935 zones.
Week 50 is expected to be a highly volatile week with a lot of important economic and financial news such as CPI, PPI and especially the FED's interest rate announcement at the FOMC meeting.
Main trend: down, mainly focus on finding entry to sell
Plan:
1. Plan sell
+ Sell 2009-2013 SL 1015
+ Sell 2019-2021 SL 2024
TP 1995 1990 1965 1935
2. Plan buy
+ Buy 1990-1993 SL 1988 TP 2004 2009 2014
+ Buy 1965-1968 SL 1962 TP 1977 1990
+ Buy 1933-1935 SL 1930 TP 1955 1960 1965 1990
Good luck!
Note
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