XAUUSD: Nonfarm's Predictions!
Updated
technical analysis:
The H1 frame's KEYLEVELs are proving to be valuable as they consistently influence the price line. Although EMA 34 & 89 are presently lower than the price line, there is a likelihood of a rally. Additionally, the RSI is higher than average. Based on price action, it appears that there may be a downward correction before a rise to 198x.
Market News:
During the course of the day, the price of gold has increased, but it is still on track to record losses of more than 1.30% for the month of May. Despite this, there have been some modest gains, and gold is currently being traded at a value above $1960. Some factors that have contributed to this growth include the removal of the debt ceiling in the US, which has caused a decrease in US Treasury bond yields. This has provided a boost to XAU/USD prices, which have experienced a tailwind as a result.
Plan Trade in the intro!
The H1 frame's KEYLEVELs are proving to be valuable as they consistently influence the price line. Although EMA 34 & 89 are presently lower than the price line, there is a likelihood of a rally. Additionally, the RSI is higher than average. Based on price action, it appears that there may be a downward correction before a rise to 198x.
Market News:
During the course of the day, the price of gold has increased, but it is still on track to record losses of more than 1.30% for the month of May. Despite this, there have been some modest gains, and gold is currently being traded at a value above $1960. Some factors that have contributed to this growth include the removal of the debt ceiling in the US, which has caused a decrease in US Treasury bond yields. This has provided a boost to XAU/USD prices, which have experienced a tailwind as a result.
Plan Trade in the intro!
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🟢A bill to raise the debt limit and cap government spending passed in the House by a wide margin late Wednesday, sending the bill to the Senate just days before Monday’s U.S. default deadline. 🟢The Fiscal Responsibility Act passed 314-117, with support from both Democrats and Republicans.
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The US debt ceiling law bypasses the House of Representatives hurdleA bill to raise the debt ceiling and cap government spending passed the House of Representatives by a wide margin, sending the bill to the Senate just days before Monday's US default deadline.
The fiscal responsibility law passed by a vote of 314-117, with support from both Democrats and Republicans.
Note
➡ Now it can be said that the specter of America's default on its debt has completely disappeared...🟢 The big obstacle was in the US House of Representatives, which is under the control of the Republicans, but finally they voted in favor of the decision to raise the US debt ceiling....
🟢 Now the decision will be referred to the Senate, which is under the control of the Democrats, and it will be very easy to pass the decision without any obstacles....
Note
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The US economy added 278,000 jobs in May of 2023 compared to 296,000 in April, better than market expectations of 173,000, according to an employment report released by ADP on Thursday.Trade active
NOW - President Biden - Over the course of my presidency, we've added 12.7 million jobs and achieved the lowest unemployment rate in over 50 years.The bipartisan budget agreement helps protect that progress.
Trade closed: stop reached
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