RLinda ! GOLD-> The lull in prices before the news
Gold prices are declining Thursday as part of a correction due to a rise in the dollar index. Investors are refraining from making big bets ahead of the U.S. jobs data release.
The DXY dollar index rose 0.4 percent. U.S. 10-year Treasury bond yields are also rising.
Markets are now on hold and almost all have moved into a consolidation phase (from a technical analysis standpoint) as investors wait for U.S. labor market data
*Pay attention to the charts (Major currency pairs and the Dollar Index in a sideways range)
On the local chart, we see a price correction after a breakdown of the strong trend line. I assume that since the price is in the waiting phase, it might consolidate and trade in the range between 1700-1730 for a while. We'll keep an eye on the news. My expectation is that price may test the strong trend line with a false breakdown and then continue to rise.
Let's watch the price reaction to the news. The short-term target is the channel resistance and the medium-term target is the 1765 liquidity zone.
Regards R. Linda!
The DXY dollar index rose 0.4 percent. U.S. 10-year Treasury bond yields are also rising.
Markets are now on hold and almost all have moved into a consolidation phase (from a technical analysis standpoint) as investors wait for U.S. labor market data
*Pay attention to the charts (Major currency pairs and the Dollar Index in a sideways range)
On the local chart, we see a price correction after a breakdown of the strong trend line. I assume that since the price is in the waiting phase, it might consolidate and trade in the range between 1700-1730 for a while. We'll keep an eye on the news. My expectation is that price may test the strong trend line with a false breakdown and then continue to rise.
Let's watch the price reaction to the news. The short-term target is the channel resistance and the medium-term target is the 1765 liquidity zone.
Regards R. Linda!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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