Gold prices are declining Thursday as part of a correction due to a rise in the dollar index. Investors are refraining from making big bets ahead of the U.S. jobs data release.
The DXY dollar index rose 0.4 percent. U.S. 10-year Treasury bond yields are also rising.
Markets are now on hold and almost all have moved into a consolidation phase (from a technical analysis standpoint) as investors wait for U.S. labor market data
*Pay attention to the charts (Major currency pairs and the Dollar Index in a sideways range)
On the local chart, we see a price correction after a breakdown of the strong trend line. I assume that since the price is in the waiting phase, it might consolidate and trade in the range between 1700-1730 for a while. We'll keep an eye on the news. My expectation is that price may test the strong trend line with a false breakdown and then continue to rise.
Let's watch the price reaction to the news. The short-term target is the channel resistance and the medium-term target is the 1765 liquidity zone.
Regards R. Linda!
The DXY dollar index rose 0.4 percent. U.S. 10-year Treasury bond yields are also rising.
Markets are now on hold and almost all have moved into a consolidation phase (from a technical analysis standpoint) as investors wait for U.S. labor market data
*Pay attention to the charts (Major currency pairs and the Dollar Index in a sideways range)
On the local chart, we see a price correction after a breakdown of the strong trend line. I assume that since the price is in the waiting phase, it might consolidate and trade in the range between 1700-1730 for a while. We'll keep an eye on the news. My expectation is that price may test the strong trend line with a false breakdown and then continue to rise.
Let's watch the price reaction to the news. The short-term target is the channel resistance and the medium-term target is the 1765 liquidity zone.
Regards R. Linda!
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NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.