FA Analysis:
1- Trump's deals have had the upper hand recently and market interest in Gold has soften and price retraced down.
2- also, the macro-economic data was good which has validated Gold retrace.
3- Last Friday US data: Consumer sentiment came undershoot and Inflation Expectations came overshoot. These data reflect really the upcoming impacts of tariffs and most probably the NO Rate Cut during the FED June Meeting. These data and No rate cur are bullish Gold.
4- Late Friday, Moody cut US rating to AA1 from AAA. This is also bullish Gold. Price might open with a gap up.
5- This week is soft in terms of data. May be few other Trump deals be concluded and bullying of Iran might happen as well. Price will react accordingly down and up.
TA Analysis:
Weekly TF:
The weekly close was bullish even with a red candle. Price was unable to close below the green weekly candle.
Hence price will retest the high of the green candle: Yellow box.
The daily candle was bullish as well. The Weekly TF and the latest FA data will have the upper hand and price should be North this week.
Wish you GL!
1- Trump's deals have had the upper hand recently and market interest in Gold has soften and price retraced down.
2- also, the macro-economic data was good which has validated Gold retrace.
3- Last Friday US data: Consumer sentiment came undershoot and Inflation Expectations came overshoot. These data reflect really the upcoming impacts of tariffs and most probably the NO Rate Cut during the FED June Meeting. These data and No rate cur are bullish Gold.
4- Late Friday, Moody cut US rating to AA1 from AAA. This is also bullish Gold. Price might open with a gap up.
5- This week is soft in terms of data. May be few other Trump deals be concluded and bullying of Iran might happen as well. Price will react accordingly down and up.
TA Analysis:
Weekly TF:
The weekly close was bullish even with a red candle. Price was unable to close below the green weekly candle.
Hence price will retest the high of the green candle: Yellow box.
The daily candle was bullish as well. The Weekly TF and the latest FA data will have the upper hand and price should be North this week.
Wish you GL!
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.