Gold is now beginning to consolidate. For us, the 1999 level is significant because if this resistance level gets crossed, the market will actively keep rising until it reaches levels around $2070 ( Weekly Resistance).
XAUUSD
will probably start determining what happens in the future.
NFP damaged the
DXY
DXY dollar market, which could lead to a sharp increase in gold prices.
There are a few significant news events that will be important keeping an eye on this upcoming week:
1. Powell's Addressing the First Round of
Jobless Claims
2. GDP in YoY
No major news or events should be expected unless the Geopolitical situation escalates.
Remember that prices are determined based on:
1. Supply & demand
2. Geopolitical stability vs riskiness
3. Economic Data
4. Major Ecological disasters
Wish you the best of luck.
XAUUSD
will probably start determining what happens in the future. NFP damaged the
DXY
DXY dollar market, which could lead to a sharp increase in gold prices. There are a few significant news events that will be important keeping an eye on this upcoming week:
1. Powell's Addressing the First Round of
Jobless Claims
2. GDP in YoY
No major news or events should be expected unless the Geopolitical situation escalates.
Remember that prices are determined based on:
1. Supply & demand
2. Geopolitical stability vs riskiness
3. Economic Data
4. Major Ecological disasters
Wish you the best of luck.
