XAUUSD -The weekend is full of news, will gold break 2000 today?
Gold Analysis October 27
About the news corner:
Note the US Core PCE data
Gold declined to near 1970 yesterday after the United States announced a series of important economic data better than expected. But then gold rebounded when geopolitical tensions showed signs of escalating. Today, investors should pay attention to the US Core PCE data scheduled for release at 19:30 i – FED`s preferred inflation assessment data. Geopolitical tensions still support gold price increases. Although the US economic data released was good for the USD, gold prices only decreased in the short term. For now, buying gold the day after a downside correction remains a priority.
About the technical corner:
On chart H1, gold is in an upward price channel. If gold declines throughout the day and corrects to the support zone at the bottom of the ascending price channel around 1976-1979, you can consider buying gold again.
Trading recommendations for October 27th:
FANG #XAUUSD Sales 1997-2000
SL 2003
TP 1990
You can buy #XAUUSD from 1976 to 1978
SL 1971
TP 1985
About the news corner:
Note the US Core PCE data
Gold declined to near 1970 yesterday after the United States announced a series of important economic data better than expected. But then gold rebounded when geopolitical tensions showed signs of escalating. Today, investors should pay attention to the US Core PCE data scheduled for release at 19:30 i – FED`s preferred inflation assessment data. Geopolitical tensions still support gold price increases. Although the US economic data released was good for the USD, gold prices only decreased in the short term. For now, buying gold the day after a downside correction remains a priority.
About the technical corner:
On chart H1, gold is in an upward price channel. If gold declines throughout the day and corrects to the support zone at the bottom of the ascending price channel around 1976-1979, you can consider buying gold again.
Trading recommendations for October 27th:
FANG #XAUUSD Sales 1997-2000
SL 2003
TP 1990
You can buy #XAUUSD from 1976 to 1978
SL 1971
TP 1985
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