Fundamental Backdrop
With the volatility in place from last week's FOMC and NFP prints, the market has yet to stabilise and we could see volatility carried over from last week to the market.
Technical Confluences
1. On the daily timeframe on XAUUSD, price has tapped onto the key resistance level at 2050 before rejecting.
2. An area of support at 1959 is crucial to look at amidst the high levels of liquidity existing above this support.
Idea
With plenty of liquidity near the support, price could potentially tap area at 1959 before heading up.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
With the volatility in place from last week's FOMC and NFP prints, the market has yet to stabilise and we could see volatility carried over from last week to the market.
Technical Confluences
1. On the daily timeframe on XAUUSD, price has tapped onto the key resistance level at 2050 before rejecting.
2. An area of support at 1959 is crucial to look at amidst the high levels of liquidity existing above this support.
Idea
With plenty of liquidity near the support, price could potentially tap area at 1959 before heading up.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.