Gold held steady around the $2,330 per ounce mark on Wednesday after declining in the previous session, as softer-than-expected US retail sales data strengthened expectations of imminent Federal Reserve rate cuts. Retail sales in the US rose by 0.1% in May, following a revised 0.2% decline in April, missing the 0.2% forecast and signaling cooling consumer sentiment. Meanwhile, Fed Bank of New York President John Williams stated on Tuesday that interest rates will gradually decrease but did not specify when the central bank will begin easing monetary policy. Investors are now focused on weekly jobless claims due Thursday and flash purchasing managers' indexes on Friday for insights into consumption and economic strength.
The price line has not changed yet.
Although yesterday's news contributed to the rise in Gold, today's slight increase could still continue despite the Bank Holiday and important GBP News in the European session.
H4 price range is getting smaller 2334-2306 waiting for a break. But with bank holidays, you should be more careful to avoid false breaks.
🔴SELL GOLD: 2348 - 2350, SL: 2354
🟢BUY GOLD: 2307 - 2305, SL: 2301
Note: Zone 2300
⛔️Breakout: 2334 - 2305
🔼Support: 2324 - 2315 - 2306 - 2300 - 2291 - 2286
🔽Resistance: 2334 - 2340 - 2350
GOOD LUCK EVERYONE👍
The price line has not changed yet.
Although yesterday's news contributed to the rise in Gold, today's slight increase could still continue despite the Bank Holiday and important GBP News in the European session.
H4 price range is getting smaller 2334-2306 waiting for a break. But with bank holidays, you should be more careful to avoid false breaks.
🔴SELL GOLD: 2348 - 2350, SL: 2354
🟢BUY GOLD: 2307 - 2305, SL: 2301
Note: Zone 2300
⛔️Breakout: 2334 - 2305
🔼Support: 2324 - 2315 - 2306 - 2300 - 2291 - 2286
🔽Resistance: 2334 - 2340 - 2350
GOOD LUCK EVERYONE👍
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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.