Hello friends, I hope you are doing well,
you can see the gold in a bigger time frame.
Currently, there is an important demand on the area, which I gave you a buy signal yesterday at the price of 1988 dollars, which has moved up 80 pips up to this moment.
Considering the importance of the demand areas in the chart, we expect the price of gold to experience growth from these areas. Supply areas and failure areas that act as price resistance can also be good areas to enter sell positions.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
you can see the gold in a bigger time frame.
Currently, there is an important demand on the area, which I gave you a buy signal yesterday at the price of 1988 dollars, which has moved up 80 pips up to this moment.
Considering the importance of the demand areas in the chart, we expect the price of gold to experience growth from these areas. Supply areas and failure areas that act as price resistance can also be good areas to enter sell positions.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
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In the 1-hour time frame, the support level formed and the drawn demand areas are a good place to enter buying positions.
By reaching the 4-hour resistance level and the next 1-hour supply area, you can enter a sell position by getting confirmation.
Note
The following important news is published today:
Core Retail Sales - expected 0.2% instead of 0.4% - negative data
Initial Jobless Claims - expected 219K instead of 218K - negative data
Philadelphia Fed Manufacturing Index - Expected -8.0 instead of -10.6 - positive data
Retail Sales - Expected -0.2% instead of 0.6% - non-aggressive data.
Overall - analysts are expecting bad data for the usa index, which could technically bring the index down, gold could then buy back the decline and strengthen to 2000-2010.
But, the market is paying attention to the actual data relative to the expected data.
If the data will be better than expected - positive, the dollar will continue its growth on a mostly bullish fundamental background.
But, if the data is worse than expected, the dollar index may catch a wave of strong sell-offs, which will have a positive and strong effect on gold.
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From yesterday's signal, when I gave you the buy position, until this moment, the price has increased by 200 pips. I hope you have used it.
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.