XAUUSD - IDEAS AND OVER VIEWS WHAT TO DO COMING WEEK
Here is quick understanding about gold
Gold had shown consolidation after it broke resistance near $1940 -$1935 range in recent market, which was due to the CPI report. The decrease in consumer inflation also resulted DXY prices to decrease, which led the gold to consolidate through out the day.
As per the current situation the resistance level that is coming ahead is $1963, followed by $1972. There is a good chance to sell from $1972 for at least 8$-10$ target. If by any chance gold breaks $1972 we can then aim for 1984$.
On the other side, if gold depletes, it is advisable to go for long positions from 1952$ or even 1940$, with the target to 1962$- 1972$.
resistance point - 1962, 1972, 1984
support point - 1950 -1940 - 1920
What do you guys think ?
Gold had shown consolidation after it broke resistance near $1940 -$1935 range in recent market, which was due to the CPI report. The decrease in consumer inflation also resulted DXY prices to decrease, which led the gold to consolidate through out the day.
As per the current situation the resistance level that is coming ahead is $1963, followed by $1972. There is a good chance to sell from $1972 for at least 8$-10$ target. If by any chance gold breaks $1972 we can then aim for 1984$.
On the other side, if gold depletes, it is advisable to go for long positions from 1952$ or even 1940$, with the target to 1962$- 1972$.
resistance point - 1962, 1972, 1984
support point - 1950 -1940 - 1920
What do you guys think ?