XAUUSD: Nonfarm with uptrend!
Updated
Hello human 🐱 I will bring a few observations today
🐠 Gold remains at a defensive level above 1800, with a close eye on the US NFP.
🐠 Gold remains in a defensive position around $1,820 after bouncing back from a weekly low of $1,813 in early Asian trading on Friday. The precious metal struggles to gain value as the Federal Reserve is expected to maintain its stance of 'higher interest rates in the long run'.
🐠 The XAU/USD is currently declining based on the technical indicators on the daily chart. The indicators have shown an expanding downward momentum in an extremely oversold territory with no signs of exhaustion. The Momentum indicator has accelerated to around 94, while the Relative Strength Index (RSI) is standing at 18. Additionally, the moving averages are strengthening their downward momentum compared to the current level, reflecting the dominance of sellers.
🐠 In the near future and according to the 4-hour chart, the risk also leans towards the downside. The 20-day Simple Moving Average (SMA) is declining, containing buyers throughout the day and now acting as a dynamic resistance level around $1,824.10. Meanwhile, the technical indicators have turned south after a northward correction into negative territory, further indicating that the XAU/USD is under the control of bears.
Support levels: $1,804.70, $1,792.10, $1,779.85
Resistance levels: $1,824.10, $1,833.35, $1,845.20
If you find it interesting, please reward me with a fish (boots).
🐠 Gold remains at a defensive level above 1800, with a close eye on the US NFP.
🐠 Gold remains in a defensive position around $1,820 after bouncing back from a weekly low of $1,813 in early Asian trading on Friday. The precious metal struggles to gain value as the Federal Reserve is expected to maintain its stance of 'higher interest rates in the long run'.
🐠 The XAU/USD is currently declining based on the technical indicators on the daily chart. The indicators have shown an expanding downward momentum in an extremely oversold territory with no signs of exhaustion. The Momentum indicator has accelerated to around 94, while the Relative Strength Index (RSI) is standing at 18. Additionally, the moving averages are strengthening their downward momentum compared to the current level, reflecting the dominance of sellers.
🐠 In the near future and according to the 4-hour chart, the risk also leans towards the downside. The 20-day Simple Moving Average (SMA) is declining, containing buyers throughout the day and now acting as a dynamic resistance level around $1,824.10. Meanwhile, the technical indicators have turned south after a northward correction into negative territory, further indicating that the XAU/USD is under the control of bears.
Support levels: $1,804.70, $1,792.10, $1,779.85
Resistance levels: $1,824.10, $1,833.35, $1,845.20
If you find it interesting, please reward me with a fish (boots).
Trade active
Scalping!
Trade active
🟢The head of the International Monetary Fund calls for keeping interest rates high for a longer periodAccording to the international news agency Reuters; The head of the International Monetary Fund, Kristalina Georgieva, revealed; Yesterday, Thursday; About some important statements related to the global economic situation and interest rates.
Related publications
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.