ArmanShabanTrading

⚠️ The last TA of #Gold on November ⚠️

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Today, the market is not following a particular trend and is waiting for the announcement of the ADP Non-Farm Employment Change and JOLTS Job Openings statistics, and after that the speech of Mr. Powell ( Federal Reserve Chairman)! Anyway, I have specified the important levels of supply and demand on the chart. Personally, I will wait for Point of Interest (POI) and then enter into a new position , and considering that it is the last day of the month, I will minimize my personal risk!

🔔 Important Day 🔔(The Last Day of The Month)

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🔴 USD : ADP Non-Farm Employment Change

💬 Usual Effect : 'Actual' greater than 'Forecast' is good for currency .

🟨 Why Should We Care ? Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;


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🔴 USD : JOLTS Job Openings

💬 Usual Effect : 'Actual' greater than 'Forecast' is good for currency .

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🔴 USD : Fed Chair Powell Speaks

📣 Speaker : Federal Reserve Chair Jerome Powell

💬 Usual Effect : More hawkish than expected is good for currency.

🟨 Why Should We Care ? As head of the central bank , which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy !

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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 11.30.2022
⚠️(DYOR)

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