GOLD BUYERS are weak by close of Newyork session on Friday they failed to break 2573-2574 zone indicating that dollar impulse and fed Dallas speak sentiment will keep dollar buyers on bullish sentiment.
while inflation is not within 2% yet and unemployment data coming above expectation ,FED (federal reserve) is not kin on rate cut or increase pending on data report which are viewed as watch tools ,as they will not want to spoil the job market.
GOLD WILL PLAY INTO CONSOLIDATION FROM THE SUPPLY ROOF and the demand floor will try to break the previous all time low of 2537.5 while keeping the descending trend line active as litmus test for buying the deep which i see in the zone 2508-2510 another 300pips drop or more.
on bullish bet watch out for break of Friday candle high which is 2574-2573.
trade with caution ,GOLD is very volatile and we need better calibration for final buy signals,
while inflation is not within 2% yet and unemployment data coming above expectation ,FED (federal reserve) is not kin on rate cut or increase pending on data report which are viewed as watch tools ,as they will not want to spoil the job market.
GOLD WILL PLAY INTO CONSOLIDATION FROM THE SUPPLY ROOF and the demand floor will try to break the previous all time low of 2537.5 while keeping the descending trend line active as litmus test for buying the deep which i see in the zone 2508-2510 another 300pips drop or more.
on bullish bet watch out for break of Friday candle high which is 2574-2573.
trade with caution ,GOLD is very volatile and we need better calibration for final buy signals,
Trade active
GOLD BUYERS are weak on liquidity by the close of the New York session on Friday they failed to break the 2573-2574 zone dropping at a close off of 2559.44 indicating that dollar impulse on FED(federal reserve) Dallas spoke hawkish sentiment will keep dollar buyers on bullish sentiment and trajectory. While inflation is not within 2% yet and unemployment data is coming in above expectation, FED (Federal Reserve) is not keen on rate cuts or increases pending data reports which will be viewed as watch tools, as they will not want to spoil the job market. GOLD WILL PLAY INTO CONSOLIDATION FROM THE SUPPLY ROOF and the demand floor will try to break the previous all-time low of 2537.5 -2540 while keeping the descending trend line active as a litmus test for buying the deep which I see in the zone 2508-2510 another 300pips drop or more. On a bullish bet, watch out for a break of Friday's candle high which is 2574-2573.on technical trade swing above Friday's high will tap in 2600-2607 another broken demand floor to resist an upswing. Trade with caution, GOLD is very volatile and we will need a better calibration for the final buy signal. DXY REJECTED 106.969 by close of Friday, break above the current dollar resistance on fundamental will push the yellow metal to a new monthly low
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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.