- There are no important economic data from the United States released today. Gold price is expected to move in a narrow range. Markets will be "cautious" ahead of next week's Fed meeting. The market is now fully pricing in the possibility that the Fed will raise rates another 25 basis points on July 26 after pausing in June. While we expect July to be the Fed's...
On the technical side.
Gold, after falling to the support zone of 1970, bounced back. Currently, gold is accumulating in the range of 1970-1985. Gold bulls have trouble approaching resistance around 1985. Gold needs to break this resistance to continue extending the upward momentum to test the 2000 psychological resistance area.
- About the technical angle.
Gold bounced fairly well yesterday to around 1985 and is currently correcting down. A good intraday buyable support zone is around 1970.
- Fundamental analysis
Gold was supported higher after important economic data from the US such as CPI, PPI and retail sales data were released weaker than expected. Currently, the market has almost...
- TECHNICAL ORIGINAL, Gold last night touched the zone 1945-1948 but could not break through and gained strong momentum again in line with the current 5 wave structure. From now until the end of the week, Gold has the momentum to increase to 197X-198X. Main Trend this week is still BUY
- ORIGINAL NEWS BASIC:
* Core retail sales (19:30 GT+7)
* Retail...
- Regarding technical analysis, last week gold had a strong uptrend from 1912-1963 because CPI and PPI had negative results for USD, this week's trend is still BUY priority and will approach the 1985 zone.
- In terms of fundamental analysis, this week's news won't have much impact on gold
* Trading strategies *
Buy 1936-1940, SL 1929
Sell 1985-1988, SL 1993
Yesterday was a gloomy session when gold sideways in the 54-63 price range, today gold continued to sideway in Asia and moved to 54-50 in Europe and America.
- Technically, still mainly selling from Area 61-63
- There is no significant news on fundamental analysis
After last night's CPI, gold has increased sharply to reach the maximum level at 1960, the trend is still increasing and approaching the important resistance area at 1969-1972.
- Back to technical analysis, look for SELL at 196X, SL when breaking through 1972. and pay attention not to add a BUY entry at this time.
- On the basis of fundamental analysis, there are...
Technically, Gold has risen to 40 and has broken through the important 1935 resistance area, and has also broken through the previous downtrend channel. Therefore, the next trend of gold will approach the 50-66 zone. Gold may have a test span of the previous 1935 resistance area to increase further.
_Back to the original news tonight, there is news that CPI will...
