-Due to recent news(NFP and Consumer Price Index) indicated that FED is aiming to increase the pricing from 50 points to 25 points. Therefore, the CPI data came out as forecasted affected USD heavily.
-Price may continue the bullish trend for months now as February FED report on interest rate are expected to rise by 0.25%.
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Of course, it comes back to this line.
But after breaking the middle line of the channel:
the price will turn the support line into a resistance line and its next movements will be in the lower range of the channel, which creates a good opportunity to sell .
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‼️ This is my perspective on XAUUSD .
Here I expect for the upcoming week price to start bearish price action, as we can see a rejection from bearish orderblock. We can correlate this move with DXY Index which is expected to start bullish price action.
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The price had created a resistance line with its movements, and now this line is broken, and the probability that it will return to this line to stabilize itself is very high. Anyway, the price will rise under the influence of this failure, but there is still a high possibility that it will return to the support line. ( Several times ) .
Gold - Nice BOS on the Daily, D/4H/1H all bullish (Only looking for buys today) Will wait for confirmation around current level or if price breaks will be waiting for reactions around the 1912 zone!
Let me know your thoughts!
Reason For Bullish
1. As per the last Year data the Market obey the Trend and made a Break of structure
2. Liquidity May happen @ strong demand Zone 1774-1778
3. Breakout above 1810 pushes Higher to 1837
Over all Possible Outcome
Buy @ 1778-1782
There is potential for gold to continue its upward trend and push up 30 more pips from current pricing area before seeing a steep retracement back downwards. A move forward may be triggered by tomorrow's USD GDP announcement as well, which is expected to temporarily weaken the US dollar. Current MA Indicators are still showing strong signs of bullish movement.
Gold - waiting to see if price breaks above 1935.890 for a straight daily continuation, if price fakes the HOD it will probably attack the LOD, if so ill be looking for confirmation/buys around 1929.400 and if that breaks i'll be looking for shorts down towards 1916.500!
Let me know your thoughts!
Gold: 1921.266 is my zone of interest for London open, I want to see if we bounce or break, if we break with confirmations ill look for short term sells, if we fake-out/close above, ill look to buy back to the top of the range with confirmation!