Analysis of the week from 4/1 to 4/5
There are important data this week, but the expectations are still not clear, and with the release of the data in a positive manner, the dollar index will react to an increase, especially the labor market and employment data at the end of the week.
As for geopolitical events, communication regarding the truce in Gaza is far away so far, and this helps gold continue to rise, but with the agreement reached, gold will be in a state of decline, especially with the emergence of positive data for the dollar.
On the other hand, the threats and escalations in Russia and Ukraine are tense, and this causes instability in the region and entry into more severe escalations, and this helps gold rise.
On the technical level:
We see good digital and astronomical areas that could be sufficient to stop the rise of gold, especially the 2255 to 2268 area, taking into account the occurrence of rapid movements, especially with the market opening at the end of each day of the week, i.e. the night hours at the beginning of the Asian and Australian session.
There is also a buying or stopping zone starting from 2228 to 2220 and the second from 2206 to 2195.
Breaking the 2161 area to 2145 and stabilizing below it begins the door to a descent below 2089
We will be with you every day and in urgent cases we will publish updates accurately
Best Regards
Hezha Ravandi
There are important data this week, but the expectations are still not clear, and with the release of the data in a positive manner, the dollar index will react to an increase, especially the labor market and employment data at the end of the week.
As for geopolitical events, communication regarding the truce in Gaza is far away so far, and this helps gold continue to rise, but with the agreement reached, gold will be in a state of decline, especially with the emergence of positive data for the dollar.
On the other hand, the threats and escalations in Russia and Ukraine are tense, and this causes instability in the region and entry into more severe escalations, and this helps gold rise.
On the technical level:
We see good digital and astronomical areas that could be sufficient to stop the rise of gold, especially the 2255 to 2268 area, taking into account the occurrence of rapid movements, especially with the market opening at the end of each day of the week, i.e. the night hours at the beginning of the Asian and Australian session.
There is also a buying or stopping zone starting from 2228 to 2220 and the second from 2206 to 2195.
Breaking the 2161 area to 2145 and stabilizing below it begins the door to a descent below 2089
We will be with you every day and in urgent cases we will publish updates accurately
Best Regards
Hezha Ravandi