Hey, Traders. Thank you for comment and boosts.
Today, we will see Gold chart. Let's check it quickly.
We can see
1. the descending channel had broken
2. bottom support on 1725
3. top resistance zone on 1825~1835
We should check
Tuesday - German CPI , BoE Gov Bailey Speaks, US CB Consumer Confidence
Wendnesday - China Manufacturing PMI, German German Unemployment Change, EU CPI , US ADP Nonfarm Employment Change, US 3Q GDP, US JOLTs Job Openings, US Pending Home Sales, Fed Chair Powell Speaks
Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI
Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. upward movement to top resistance zone on 1825~1835 by breaking resistance on 1775
2. second rebounding from 1725
There was already rebounding from 1725 and we could have a chance to buy.
If you haven't had that chance, you may need to wait for the second rebounding from 1725.
I'm expecting the upward movement to top resistance zone on 1825~1835 and this will be a chance to close our position while we switch our position to short.
During holding our long position, we should think about few things.
China isolation, and Fed's monetary policy. Those factors can be a game changer and we should keep eye on them.
Let's see if we can hold our position.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Today, we will see Gold chart. Let's check it quickly.
We can see
1. the descending channel had broken
2. bottom support on 1725
3. top resistance zone on 1825~1835
We should check
Tuesday - German CPI , BoE Gov Bailey Speaks, US CB Consumer Confidence
Wendnesday - China Manufacturing PMI, German German Unemployment Change, EU CPI , US ADP Nonfarm Employment Change, US 3Q GDP, US JOLTs Job Openings, US Pending Home Sales, Fed Chair Powell Speaks
Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI
Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. upward movement to top resistance zone on 1825~1835 by breaking resistance on 1775
2. second rebounding from 1725
There was already rebounding from 1725 and we could have a chance to buy.
If you haven't had that chance, you may need to wait for the second rebounding from 1725.
I'm expecting the upward movement to top resistance zone on 1825~1835 and this will be a chance to close our position while we switch our position to short.
During holding our long position, we should think about few things.
China isolation, and Fed's monetary policy. Those factors can be a game changer and we should keep eye on them.
Let's see if we can hold our position.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
