XAU/USD - Gold Weekly Analysis(3rd. Mar. 2025 to 7th Mar. 2025)
XAU/USD - Gold Weekly Analysis(3rd. Mar. 2025 to 7th Mar. 2025)
Weekly recap:
Even though Gold is MACRO bullish on the HTF. We did a fantastic job last week adapting to sells from ATHs, and back below 2930s. We anticipated we can at least retest into near demand zone around 2880s BUT we extended the bearish profit taking move printing an unexpected LL at 2840s. This is lining up with EOM and new business month prices setting up around the corner.
Reminder on Gold:
Even though Gold is MACRO bullish on the HTF, the asset class sees very large retracement / pullback as markets moves in waves. Keep in mind we are starting a new business month. We have to be careful where if Gold buyers do no reclaims price above 2880-2890 we can instead see extension of retracement into Trump trade Nov 2024 prices of 2750-2760s. With no NEW trade war tensions events, geopolitical risk on the back burner, Feds slow approach to rate cuts, USD starting to find a support/ bullish steam and on Gold specifically profit taking from record break highs requires adaption.
Something to look out for on the Macro.
Trade ideas for upcoming week:
Since Gold is currently in a secondary phase of MS i will be playing sells into better demanded prices
Bullish bias:
1 - Gold comes down into first 2760 AOI
Bearish bias:
1 - Holds below 2880s
2 - Breaks and holds below current lows at 2845 KL
Economic outlook:
In terms of economic events this week, we have a lot to unfold as we are in a new business month. To begin this week, We have United States ISM Manufacturing PMI and during the second half of the week will be our main focus as we have United States ISM PMI Services data, Initial Jobless Claims, NFP and Unemployment rate.
1 - Monday : ISM Manufacturing PMI
2 - Wednesday : ISM PMI Services
3 - Thursday : Initial Jobless Claims
4 - Friday : NFP, Unemployment Rate
Daily Reminder:
-Caution-
Stay Smart, Trade safe, follow your trading plan, follow your risk management plan, focus on long term vision, keep emotions out and avoid crashing your account.
Weekly recap:
Even though Gold is MACRO bullish on the HTF. We did a fantastic job last week adapting to sells from ATHs, and back below 2930s. We anticipated we can at least retest into near demand zone around 2880s BUT we extended the bearish profit taking move printing an unexpected LL at 2840s. This is lining up with EOM and new business month prices setting up around the corner.
Reminder on Gold:
Even though Gold is MACRO bullish on the HTF, the asset class sees very large retracement / pullback as markets moves in waves. Keep in mind we are starting a new business month. We have to be careful where if Gold buyers do no reclaims price above 2880-2890 we can instead see extension of retracement into Trump trade Nov 2024 prices of 2750-2760s. With no NEW trade war tensions events, geopolitical risk on the back burner, Feds slow approach to rate cuts, USD starting to find a support/ bullish steam and on Gold specifically profit taking from record break highs requires adaption.
Something to look out for on the Macro.
Trade ideas for upcoming week:
Since Gold is currently in a secondary phase of MS i will be playing sells into better demanded prices
Bullish bias:
1 - Gold comes down into first 2760 AOI
Bearish bias:
1 - Holds below 2880s
2 - Breaks and holds below current lows at 2845 KL
Economic outlook:
In terms of economic events this week, we have a lot to unfold as we are in a new business month. To begin this week, We have United States ISM Manufacturing PMI and during the second half of the week will be our main focus as we have United States ISM PMI Services data, Initial Jobless Claims, NFP and Unemployment rate.
1 - Monday : ISM Manufacturing PMI
2 - Wednesday : ISM PMI Services
3 - Thursday : Initial Jobless Claims
4 - Friday : NFP, Unemployment Rate
Daily Reminder:
-Caution-
Stay Smart, Trade safe, follow your trading plan, follow your risk management plan, focus on long term vision, keep emotions out and avoid crashing your account.
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.