GOLD - UNDER NEWS PRESSURE
Gold rose on Thursday after recent data raised bets for a supersized Federal Reserve interest rate cut this month, but caution ahead of U.S. payrolls data capped further gains.
Important data today: ADP, Initial Jobless Claims, ISM! These reports will have a major impact on the markets, especially on the gold chart.
Generally, the direction is uptrend
Uptrend Side: Because gold is stable above 2495 and 2507, it may touch 2529, the previous high, and above it 2540, a new high level.
Downtrend Side: Be aware that gold may fall from the current area to the 2507 support level as a correction, or rise and touch the previous high of 2529 and then fall to 2507 support. Continuing this correction until below the 2507 support will reach the 2495 level and will fall to the 2474 level, especially if the data outcome is negative for gold.
Important data today: ADP, Initial Jobless Claims, ISM! These reports will have a major impact on the markets, especially on the gold chart.
Generally, the direction is uptrend
Uptrend Side: Because gold is stable above 2495 and 2507, it may touch 2529, the previous high, and above it 2540, a new high level.
Downtrend Side: Be aware that gold may fall from the current area to the 2507 support level as a correction, or rise and touch the previous high of 2529 and then fall to 2507 support. Continuing this correction until below the 2507 support will reach the 2495 level and will fall to the 2474 level, especially if the data outcome is negative for gold.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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