Ideas For XAUUSD
Ideas For XAUUSD
The DXY is forming a correction. The previously broken resistance at 106.121 may be tested soon. Most likely from this level, based on the global fundamental background, the growth may continue, but first we need to wait for the fundamentals of the coming week and a retest of the level from a technical point of view.
Resistance 1856.79, 1885.68
Support 18335.12, 1828
The nearest target for local maneuver is the level of 1856. But in the medium term, I continue to wait for further decline, especially to the level of 1836.12 and 1800, as the US monetary policy is still tight to reduce the cost of production, so after a small pullback, the growth of the dollar and the fall of gold may continue--The euphoria from the NFP (negative news for the dollar), may not last that long, and after a small technical correction, the main movement may continue. There are several reasons for this---
DXY - Bullish Channel
The main fundamental background for the dollar index is bullish, Powell (FED) is not going to lose momentum yet, as in every address there are always references to the rising inflation and the tight market, which they are trying to fight. By the way, there are several important news items being published this week. Worth paying attention to:
• PPI (Mom), FOMC Meeting Minutes
• GDP, Core CPI, CPI, Initial Jobless Claims
The DXY is forming a correction. The previously broken resistance at 106.121 may be tested soon. Most likely from this level, based on the global fundamental background, the growth may continue, but first we need to wait for the fundamentals of the coming week and a retest of the level from a technical point of view.
Resistance 1856.79, 1885.68
Support 18335.12, 1828
The nearest target for local maneuver is the level of 1856. But in the medium term, I continue to wait for further decline, especially to the level of 1836.12 and 1800, as the US monetary policy is still tight to reduce the cost of production, so after a small pullback, the growth of the dollar and the fall of gold may continue--The euphoria from the NFP (negative news for the dollar), may not last that long, and after a small technical correction, the main movement may continue. There are several reasons for this---
DXY - Bullish Channel
The main fundamental background for the dollar index is bullish, Powell (FED) is not going to lose momentum yet, as in every address there are always references to the rising inflation and the tight market, which they are trying to fight. By the way, there are several important news items being published this week. Worth paying attention to:
• PPI (Mom), FOMC Meeting Minutes
• GDP, Core CPI, CPI, Initial Jobless Claims
Penafian
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