Selling order engaged / #1,792.80 Target to monitor

As discussed throughout my Friday's session commentary: "My position: I am expecting today's session High Impact announcements to favor Sellers later on and with combination of Technical necessity for #1,800.80 benchmark test and Fundament developments which will Bearish effect on Gold , I see no firm reason why #1,800.80 benchmark won't be tested."


I have closed my Selling order throughout Friday's session (#1,823.80 - #1,810.80) on a fine #13 point Profit, extending my results range to #58 Profits row and #13 Stop-loss hits regarding April - February cycle. I will use this chance to congratulate Traders who followed my call as this is #5th consecutive Profit within #2-Week period, well done!


Technical analysis: Price-action has achieved a temporary equilibrium on Hourly 4 chart, between #1,809.80 and #1,827.80 (roughly Gold is in Oversold waters) as it still de-balances the Technically Bearish dynamics of Short-term and the Bullish (at least for DX) Fundamental "fear factor". By my calculations, DX - sole Fundamental driver behind Gold’s potential downtrend in continuation is gaining it’s strength (directly affecting Gold markets), if Gold closes the session below #1,817.80 configuration and does not open with a Bullish Gap fill throughout tomorrow's session, Sellers will arise once again and push the Price-action possibly towards #1,800.80 benchmark first, then if broken pursue #1,792.80 Lower Low’s Upper zone projection. Gold continues to represent the product in High speculation mode and aswell Buying spree on DX isn’t going in favor to Gold’s Buyers. It is also unknown whether a potential signing of the Tariff bill is already priced in or not, aswell Fed’s aggressive stance and how it will be digested by markets. Throughout Friday’s session, I witnessed Gold on Intra-day Selling sequence along with DX on parabolic uptrend (very fair diagonal correlation) however if you remember Wednesday’s session where Gold was preventing further downtrend with almost #18 point recovery from #1,817.80 (former) Support, on the same session DX was skyrocketing on one of the strongest Intra-day uptrends since #Q1, adding no expected Selling pressure on Gold (Price-action should be significantly Lower). Daily chart is on Bearish gradient and is constantly delivering Selling opportunities, as Price-action is still far from recovering more Moving Average lines. Do not ignore the possible consolidation within current Selling cycle I mentioned many times on my remarks with many similarities with August fractal. If #1,809.80 Support breaks aggressively, sole development will pile Selling pressure and arise Medium-term Sellers once again, foundation which can realize #1,800.80 psychological benchmark test and #1,792.80 extension. As mentioned many times throughout my remarks, #1,800.80 - #1,809.80 Support zone won’t be invalidated easily, so realize the significance of this level.


My position: As Gold is approaching #2-Month Low's and becoming critically Oversold, regardless I have engaged new Selling order with #1,810.80 as my key entry point. My Target remains #1,792.80 Support in extension (first Lower Low's on the smaller charts, untouched since December #23).