After a liquidity sweep and touching the previous daily high, gold is exhibiting a notable reaction on the H1 chart. An economic announcement is imminent within a few hours and is expected to influence the market.
You can check my entry in the lower time frame :
You can check my entry in the lower time frame :
Note
As I mentioned, a significant volume has been created below the breaker block, making it challenging to access a substantial amount of money. Today is a special day, with many economic announcements expected, including Powell's (🇺🇸 Housing Sales and Powell's Speech). Market trends should be monitored.
Note
If we break the high volume, we are good to go. DXY gives us a good signal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.