Good day everyone. We've been navigating between 1285 and 1294 in an extended consolidation period. Overall the market is still bullish above 1278 however without any major news release there has not been a strong push neither way.
I have booked profit from my position @1275 and I will be watching the news today and tomorrow. Most likely my next position will be long as long as 1278 holds but I won´t rush to go long without confirmation of the bullish scenario. If I don´t see any technical signal that indicates continuation of the trend this week I will just leave a buy stop order @1302 with SL @1292.
I still believe that we are going to have a bull run up to 1350 within the next 4 weeks to then enter a bearish trend down to 1200, as long as there is sort of geopolitical stability until December.
Monthly Chart is attached for your feedback.
I have booked profit from my position @1275 and I will be watching the news today and tomorrow. Most likely my next position will be long as long as 1278 holds but I won´t rush to go long without confirmation of the bullish scenario. If I don´t see any technical signal that indicates continuation of the trend this week I will just leave a buy stop order @1302 with SL @1292.
I still believe that we are going to have a bull run up to 1350 within the next 4 weeks to then enter a bearish trend down to 1200, as long as there is sort of geopolitical stability until December.
Monthly Chart is attached for your feedback.
Sir fomc is there any view
ReplyDeleteOk, what I expect from them is to confirm their view about raising the interest rate on Dec. However the tone of the MoM will determine the way in which US 10 yr note, EUR/USD and Gold are going to move. I would suspect that either a rally or a dip to 1280 and then a rally could take place. In any case 1278 is a critical level that must hold after the release. If the tone is dovish then Gold is likely to break the 1300 level this week.
ReplyDeleteThank you, cesar!
ReplyDeleteSir. What happen with xau. Jolts is bad or red. But xau has something wrong. Is it will give some trap or sell? Need opinion n info. Thanks.
ReplyDeleteNothing happens with XAU, it is moving within a lateral consolidation channel and will continue there until when either breaks above 1294 or 1285, however the overall bias is bullish with key support @1278.
ReplyDeleteSir. U mean xau only sideway beetwen 1285-1295, and waiting for fomc news and data usa tomorrow? Thanks.
ReplyDeleteYeap, with short term bearish bias, I mean is easier to break below 1285 to test 1278 than to break 1294, but if it fails to break 1285 then the trend will switch to bullish short term.
ReplyDeleteSir if can not break 1285 and if can break 1285 but not touch to 1278, It will bull more than 1300? Isn't it? Thanks
ReplyDeleteI don´t know.
DeleteNow testing 1285
ReplyDeleteSir if 10 years note lower than previous, so it will what happen with dollar and xau? Thanks
ReplyDeleteThey typically move in the same direction.
ReplyDeleteAll any news about FOMC?
ReplyDeleteI don't get it, did you watch the MoM release? What is your feedback with regards to it.
ReplyDeleteNo sir. I am looking at investing. Can not find it.
ReplyDeleteMoM is bad?
Sir after looking this range close 1291.80, do you think it will bull and break 1300? Or still wait for data usa on friday?
I felt XAU still bull and break to 1350 or more. Do you agree with me?
ReplyDelete