Yellow Metal Looking Go Forward But $$ trying to Stop
XAUSD Technical Overview:
Day Trading Range: $1196 - $1216
Pivot: $1201.20
Key Resistance: $1205.25 - $1208.36 - $1212 - $1215.45
Key Support: $1201.20 - $1198.33 - $1194.20 - $1192.10
Technical Indicators:
RSI: Indicator shows upside momentum, moving above 50 level.
MACD: MacD having bullish trend line.
Moving Average: SMA 100 ($1199.89) & SMA 200 ($1199.10) strong support for Gold.
Technical Trade Idea:
Most Likely Scenario: long positions above $1201.10 with targets at $1208.45 & $1212 in extension.
Alternative scenario: below $1201.10 look for further downside with $1198.25 & $1194.50 as targets.
Fundamental:
Gold move depends on Dollar today
1) The US housing starts rose strong 9.2% m/m in August while building permits decreased -5.7% m/m in the same month.
2) The US initial jobless claims are expected to increase to 210K in the week ending September 14.
3) Philadelphia Fed index is expected to increase to 17.0 in September from 11.9 in August.
Thanks
YoCryptoManic
Day Trading Range: $1196 - $1216
Pivot: $1201.20
Key Resistance: $1205.25 - $1208.36 - $1212 - $1215.45
Key Support: $1201.20 - $1198.33 - $1194.20 - $1192.10
Technical Indicators:
RSI: Indicator shows upside momentum, moving above 50 level.
MACD: MacD having bullish trend line.
Moving Average: SMA 100 ($1199.89) & SMA 200 ($1199.10) strong support for Gold.
Technical Trade Idea:
Most Likely Scenario: long positions above $1201.10 with targets at $1208.45 & $1212 in extension.
Alternative scenario: below $1201.10 look for further downside with $1198.25 & $1194.50 as targets.
Fundamental:
Gold move depends on Dollar today
1) The US housing starts rose strong 9.2% m/m in August while building permits decreased -5.7% m/m in the same month.
2) The US initial jobless claims are expected to increase to 210K in the week ending September 14.
3) Philadelphia Fed index is expected to increase to 17.0 in September from 11.9 in August.
Thanks
YoCryptoManic