GOLD : ECONOMY Fed changes could send $ 1700 back

XAUUSD ANALYSIS FUNDAMENTAL & TECHNICAL

Gold had a 2% drop in the week we had, the changes given by the Fed were quite optimistic about raising it to a price above $ 2060 but that the economic crisis seems to hit and gold sometimes.

If we were to look at the daily structure we would see a trendline support and a resistance while we managed to continue breaking it I think that "NFP" "EMPLOYMENT" & "UNEMPLOYMENT" that were published these days for the month of August had a bearish target for gold and a positive rise for the dollar index I think we can look beyond $ 1900 and $ 1800 if it can touch a $ 1750 retest if it were possible.

We are caught from the economic (fundamental) point of view, the purchase of gold continues in large numbers as investors see it as quite stable, inflation in America increased while we look at bearish structures, why does this happen?

We already know that in a local currency versus a quota currency, or otherwise (Basic currency in exchange for quota currency) we will see that if the base currency increases the quota currency decreases and we need to buy, as the quota currency depreciates, I believe this is something right.

if we look at the positions we will see that 70% of traders are selling the base currency while 30% are buying the base currency, the larger volume lies in the minority of what we are trading.

This is also the case with gold if banks are selling so much and investors want to buy so much the price increase would be a drastic loss in terms of sellers (Banks in question) so they will look for a more stable price where they can buy again and can sell at a more affordable price

In the comments below I will publish the gold analysis in 4 different timeframes (30M / 1H / 2H / 4H)

I hope you are also a follower of the comments where we can share ideas

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Comment:

H2

Gold moves are below $ 1911 levels and above $ 1947 levels so we will look at their breaking moments for a better and more stable entry.

Comment:

H1

I am always given after price action its movements do not lie along with the levels but for the moment I can see the lowest daily movements that can help me in its entrances

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For everything you can comment and share your ideas

Comment:

POSSIBLE ENTRY SWING / DAY

SWING (SELL) ENTRY @1933
SL : 1988.00
TP (1) : 1910.00
TP (2) : 1886.00
TP (3) : 1811.00

DAY (SELL) ENTRY @1933
SL : 1950.00
TP : 1904.00

Trade closed: target reached:

WE HIT TARGET OF SELL DAILY WITH TP IN 1904

Trade active:

UPDATE NOW !!!

BUY

TP(1) 1930
TP(2) 1950
TP(3) 2000