XAUUSD aka GOLD analysis 23-09-2022 forexoverflow.io
As on 23rd of September 2 022, we can clearly find out that gold is currently trading below its previous support levels and is unable to lift its weight up to 58 levels. However, the main focus of us today should be on the economic event which shall be releasing out in next six hours and 22 minutes which is S&P global manufacturing, PMI reports and respectively. After 10 hours 36 minutes in which Federal reserve chairman Powell speech would indicate their new plans to counter inflation.
Technically speaking one can clearly see RSI is below 50 and currently stands at 35 level and on the contraband for dollar index are such a strong since yesterday of 64 mark. Also on the contrary in the price of gold is trading below 20 and dollar index is trading strongly much above 20 EMA as I speak currently dollar index is at 52 weeks high which interns gives us a signal. The dollar has been making higher highs. Since last 15 days. One could clearly see gold could find it support around 1600 levels on week to week basis, shorting today would lead to take profit levels of 1650 and 1625 for buying limits. Anything above 1690 is feasible which is hard to cover today
Technically speaking one can clearly see RSI is below 50 and currently stands at 35 level and on the contraband for dollar index are such a strong since yesterday of 64 mark. Also on the contrary in the price of gold is trading below 20 and dollar index is trading strongly much above 20 EMA as I speak currently dollar index is at 52 weeks high which interns gives us a signal. The dollar has been making higher highs. Since last 15 days. One could clearly see gold could find it support around 1600 levels on week to week basis, shorting today would lead to take profit levels of 1650 and 1625 for buying limits. Anything above 1690 is feasible which is hard to cover today