forextidings

Weekly outlook of Gold Spot

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month.

Gold spot needs to break 1809 levels to retest support of 1793.6 - 1783.6. These support levels will push the gold price higher. Gold isn't sellable until the breakout of 1766 (strong support).

XAUUSD will touch 1858 - 1898 levels soon.

Watch significant releases or events that may affect the movement of gold , silver , crude oil , and natural gas:

Wednesday, Jul 21, 2021
02:00 API Weekly Crude Oil Stock - Medium Impact
20:00 Crude Oil Inventories - High Impact
20:00 Cushing Crude Oil Inventories - Medium Impact


Thursday, Jul 22, 2021
20:00 Natural Gas Storage - Low Impact
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