XAUUSD|Daily analysis and important areas
Hello friends, I hope you are doing well
You can see the gold chart in the 1-hour time frame.
In the analysis on Friday, it did not go according to my opinion and the related news caused fluctuations in gold, and as a result, selling pressure on gold increased.
The drawn resistance level prevented the price from moving upwards and from this level we saw the gold price fall.
Currently, it is in the demand area, but there are no signs of entering buying positions, and there is still more selling pressure.
The supply areas drawn on the chart, the 15-minute and 1-hour supply areas are good areas to enter sell positions.
With the failure of this demand area, which is currently facing the price, we can test selling positions by returning to this area.
You can see the gold chart in the 1-hour time frame.
In the analysis on Friday, it did not go according to my opinion and the related news caused fluctuations in gold, and as a result, selling pressure on gold increased.
The drawn resistance level prevented the price from moving upwards and from this level we saw the gold price fall.
Currently, it is in the demand area, but there are no signs of entering buying positions, and there is still more selling pressure.
The supply areas drawn on the chart, the 15-minute and 1-hour supply areas are good areas to enter sell positions.
With the failure of this demand area, which is currently facing the price, we can test selling positions by returning to this area.
Trade closed: target reached:
How great, by hitting again the 15-minute supply area that I mentioned in the analysis, it started its downward movement and moved exactly as we predicted.🤑
I hope you were able to enter this sales position on time and receive the profit.🤩
How great, by hitting again the 15-minute supply area that I mentioned in the analysis, it started its downward movement and moved exactly as we predicted.🤑
I hope you were able to enter this sales position on time and receive the profit.🤩
Trade closed: target reached:
The CPI data was in favor of the dollar index and caused a sharp drop in gold prices.
As mentioned in the analysis, it started its fall by hitting the one-hour supply area.
I hope you have used this analysis for more profit.
I am happy to support and share your opinions with me.
The CPI data was in favor of the dollar index and caused a sharp drop in gold prices.
As mentioned in the analysis, it started its fall by hitting the one-hour supply area.
I hope you have used this analysis for more profit.
I am happy to support and share your opinions with me.
Currently, by hitting the 1-hour demand area that we already had on the chart.
It made it move upwards and break the last resistance level upwards.
The important areas of supply and demand are clear on the image.
Today we have the CPI data, try to enter trading positions with less risk.
The following important news is published today:
13:30 GMT - Core CPI (MoM) (Jan) - expected 0.3% previously 0.3%
13:30 GMT - Core CPI (YoY) (Jan) - expected 3.7% instead of 3.9%.
13:30 GMT - CPI (YoY) (Jan) - expected 2.9% previously 3.4%
13:30 GMT - CPI (MoM) (Jan) - expected 0.2% previously 0.3%
In general, analysts expect a decline in the index, i.e. bearish data, which may put pressure on the dollar. Accordingly, gold may continue to grow towards the target.
But, the market reacts to the actual data. If the figures will be lower than expected data, gold may grow, and accordingly, if the figures will be higher than expected, and this is a favorable scenario for the dollar, in this case, gold will continue to correct downward.