Several important news are published today, I am interested in Initial Jobless Claims - as one of the inflation indicators. Analysts expect a slight improvement in this indicator, which may strengthen the dollar in the short term. But as we remember, the last 3 times the data was worse than the previous one. If they are better than expected, gold will show a slight correction and vice versa.
From the last FOMC meeting: Fed members are not ready to cut the rate yet, but there is a high probability that they will not raise it again
From a TA: Gold looks quite strong despite the indicators data, we are judging on a fundamental basis. High interest, weakening dollar and geopolitical basis suggest further price growth.
Support levels: 1993,1984
Resistance levels: 2000-2004
I am expecting a correction and news data that may determine the short to medium term outlook. I still see gold as an asset that can strengthen its price in the near term.
From the last FOMC meeting: Fed members are not ready to cut the rate yet, but there is a high probability that they will not raise it again
From a TA: Gold looks quite strong despite the indicators data, we are judging on a fundamental basis. High interest, weakening dollar and geopolitical basis suggest further price growth.
Support levels: 1993,1984
Resistance levels: 2000-2004
I am expecting a correction and news data that may determine the short to medium term outlook. I still see gold as an asset that can strengthen its price in the near term.
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.
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.