🔴 XAUUSD : PMI & FOMC Meetings 🔴

First of all let's see what's the effects of these 2 important news on the market and USD !

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🔴 USD : Flash Services PMI

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

🟨 Why Should We Care ? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy !

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🔴 USD : FOMC Meeting Minutes

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

🟨 Why Should We Care ? It's a detailed record of the FOMC's most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates !

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Update : As you can see, the price has dropped more than 150 pips since yesterday, but it didn't enter our POI , What I expected from the price drop happened sooner, which was good! The range of $1733 has kept the price and we have to see what effect today's news will have on the market and whether it will cause gold to fall more and hit the targets mentioned in the previous analysis or not! My opinion is still bearish unless proven otherwise! Targets : $1713, $1702, $1682, $1667 and $1653!

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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 11.23.2022
⚠️(DYOR)

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✅ +100 Pips ✅