Hello trader
technical:
The only scenario buyers and sellers technically can see. all we know market have big sell but from where .best place to sell is top of the channel . it's better all of you know until price isn't touch top of the channel or 4 H candle isn't close 2303 sellers are in panic.
Fundamental:
The US economic docket will not offer any high-tier data releases at the beginning of next week. On Wednesday, the BLS will publish the Consumer Price Index (CPI) data for March. On a monthly basis, the CPI and the core CPI are both forecast to rise 0.3%. In case the monthly core CPI rises at a stronger pace than forecast, the immediate reaction could boost the USD and trigger a downward correction in Gold. On the other hand, a print of 0.2% or lower could revive expectations for a June rate cut and hurt the USD.
The BLS will release the Producer Price Index (PPI) data on Thursday. In the past, market participants paid little to no mind to producer inflation data. The previous couple of PPI releases, however, triggered big reactions. In February, the PPI rose 0.6% on a monthly basis. A similarly strong growth in monthly producer inflation could feed into expectations about consumer inflation remaining sticky and support the USD.
On Thursday, the European Central Bank (ECB) will announce its monetary policy decisions. This event might not have a direct impact on Gold’s valuation. However, a dovish ECB stance could highlight the policy divergence between the Fed and drive capital outflows out of the Euro into the USD. In this scenario, the broad-based USD strength could make it difficult for XAU/USD to gain traction.
In the Asian session on Friday, Trade Balance data from China, the world’s biggest consumer of Gold, will be watched closely by market participants. If this data points to an improving economic growth outlook in China, Gold could benefit from it.
Investors will also keep a close eye on geopolitical developments and comments from Fed officials. A further escalation of tensions in the Middle East could support XAU/USD regardless of the USD’s overall performance
technical:
The only scenario buyers and sellers technically can see. all we know market have big sell but from where .best place to sell is top of the channel . it's better all of you know until price isn't touch top of the channel or 4 H candle isn't close 2303 sellers are in panic.
Fundamental:
The US economic docket will not offer any high-tier data releases at the beginning of next week. On Wednesday, the BLS will publish the Consumer Price Index (CPI) data for March. On a monthly basis, the CPI and the core CPI are both forecast to rise 0.3%. In case the monthly core CPI rises at a stronger pace than forecast, the immediate reaction could boost the USD and trigger a downward correction in Gold. On the other hand, a print of 0.2% or lower could revive expectations for a June rate cut and hurt the USD.
The BLS will release the Producer Price Index (PPI) data on Thursday. In the past, market participants paid little to no mind to producer inflation data. The previous couple of PPI releases, however, triggered big reactions. In February, the PPI rose 0.6% on a monthly basis. A similarly strong growth in monthly producer inflation could feed into expectations about consumer inflation remaining sticky and support the USD.
On Thursday, the European Central Bank (ECB) will announce its monetary policy decisions. This event might not have a direct impact on Gold’s valuation. However, a dovish ECB stance could highlight the policy divergence between the Fed and drive capital outflows out of the Euro into the USD. In this scenario, the broad-based USD strength could make it difficult for XAU/USD to gain traction.
In the Asian session on Friday, Trade Balance data from China, the world’s biggest consumer of Gold, will be watched closely by market participants. If this data points to an improving economic growth outlook in China, Gold could benefit from it.
Investors will also keep a close eye on geopolitical developments and comments from Fed officials. A further escalation of tensions in the Middle East could support XAU/USD regardless of the USD’s overall performance