đź’¬Description: Metals, as well as currencies, remain under pressure from the US dollar, although a slight recovery is expected today, and you should be careful with it, since the USD has every reason to start growing again in the afternoon. The downside goal for Gold, indicated in the previous trading idea at 1895.595, remains unchanged. Before this, we are waiting for a reaction at 1905.695, after which there will probably be a downtrend impulse to the goal indicated above.
Before this, as indicated on the chart, there is a possibility of an upward movement (within the framework of a correction) into the resistance zone. If such a scenario comes true, it will also provide market participants with good sell entry points with good risk/reward potential.
We remind you about today's economic calendar, which will not pass over Gold:
🇺🇸 SP-Case-Schiller Index
🇺🇸 Consumer Confidence
🇺🇸 New Home Sales
🇺🇸 Richmond Manufacturing Index
âž–âž–âž–âž–âž–âž–âž–
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Before this, as indicated on the chart, there is a possibility of an upward movement (within the framework of a correction) into the resistance zone. If such a scenario comes true, it will also provide market participants with good sell entry points with good risk/reward potential.
We remind you about today's economic calendar, which will not pass over Gold:
🇺🇸 SP-Case-Schiller Index
🇺🇸 Consumer Confidence
🇺🇸 New Home Sales
🇺🇸 Richmond Manufacturing Index
âž–âž–âž–âž–âž–âž–âž–
👇Share your views and FOLLOW US👇
Note
Live trading idea ❗️Trade closed: target reached
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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.