Gold is trading inside the red uptrend channel , looking strong bullish in Lower time frames. However still looking weaker in higher time frame.
after the consumer sentiment data last Friday, Japan's & china currency intervention has brought softness in dollar index causing the rally in gold.
Today we have many US data lined up (advance GDP, core durable goods , unemployment claims), that can bring volatility in gold
A mix data can create the choppy price action both the side.
Here are out trade ideas for today.
In our opinion dollar weakness will remain in the market until the data release so we are expecting higher high in gold,
Pull back to 1659-1662 will be a good buy Targeting 1678-1680
Breakout above 1670-1672 will be another safe buy entry.
1680-1683 is still big hurdle in higher time frame, any rejection from these key levels along with good USD data will be strong bearish and it can reverse till 1640-1645,
below 1640-1645 there is no long entry we will be looking for 1610-1615.
after the consumer sentiment data last Friday, Japan's & china currency intervention has brought softness in dollar index causing the rally in gold.
Today we have many US data lined up (advance GDP, core durable goods , unemployment claims), that can bring volatility in gold
A mix data can create the choppy price action both the side.
Here are out trade ideas for today.
In our opinion dollar weakness will remain in the market until the data release so we are expecting higher high in gold,
Pull back to 1659-1662 will be a good buy Targeting 1678-1680
Breakout above 1670-1672 will be another safe buy entry.
1680-1683 is still big hurdle in higher time frame, any rejection from these key levels along with good USD data will be strong bearish and it can reverse till 1640-1645,
below 1640-1645 there is no long entry we will be looking for 1610-1615.
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🟡 Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/FxOverseas
🟢 INSTAGRAM: instagram.com/fxoverseas/
🟢 Youtube :youtube.com/@fxoverseas
🟡 Not financial advice. For educational purposes only.
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.
🔵 FREE TELEGRAM CHANNEL: t.me/fxoverseas
🔴 TWITTER: twitter.com/FxOverseas
🟢 INSTAGRAM: instagram.com/fxoverseas/
🟢 Youtube :youtube.com/@fxoverseas
🟡 Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/FxOverseas
🟢 INSTAGRAM: instagram.com/fxoverseas/
🟢 Youtube :youtube.com/@fxoverseas
🟡 Not financial advice. For educational purposes only.
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.