Hi, everyone, glad to share my ideas with you guys here.
In this week, there will be some events which affect on the market.
Let's check the chart and what those events are.
We can see
1. 1680 ~ 2080 box pattern
2. short-term descending channel
We should check
1. BoC Interest Rate Decision (expect 75bp raising)
2. ECB Monetary Policy Statement (expect 75bp raising)
3. Fed Chair Powell Speaks
4. ECB President Lagarde Speaks
We can expect
1. support on 1680 which is bottom line of box pattern. This can be chance to buy.
2. price goes upward, it will meet the resistance on 1725 again. This will be chance to sell.
3. breaking the support on 1680 and box pattern. In this case, price will be dropped toward 1550.
Because of ECB, dollar price can be fall for short but we should regard there is Powell's speech after ECB.
I expect gold will break the box pattern soon.
Let's see if the box pattern will be kept or not.
Thanks for reading, and hope this insight is helpful.
In this week, there will be some events which affect on the market.
Let's check the chart and what those events are.
We can see
1. 1680 ~ 2080 box pattern
2. short-term descending channel
We should check
1. BoC Interest Rate Decision (expect 75bp raising)
2. ECB Monetary Policy Statement (expect 75bp raising)
3. Fed Chair Powell Speaks
4. ECB President Lagarde Speaks
We can expect
1. support on 1680 which is bottom line of box pattern. This can be chance to buy.
2. price goes upward, it will meet the resistance on 1725 again. This will be chance to sell.
3. breaking the support on 1680 and box pattern. In this case, price will be dropped toward 1550.
Because of ECB, dollar price can be fall for short but we should regard there is Powell's speech after ECB.
I expect gold will break the box pattern soon.
Let's see if the box pattern will be kept or not.
Thanks for reading, and hope this insight is helpful.
