21 Points profit as I kept my Position open througout the week
21 Points of total profit as I kept my Position open throughout the week
The Gold Spot, once again, managed to reach the 1828,90 strong resistance and did not get enough momentum to break it, which makes it 4th time in the last 6 months that this type of rejection happens.
In my last two articles I wrote about how this week's four big fundamental events could possibly affect the Price action. All of them, including The Federal Reserve Chairman Jerome Powell's speech, as expected, had negative impact on DX (Dollar Index), which lost cca 0.794 throughout this week. The Consumer Price Index, Retail Sales and Initial Jobless Claims reports provided us with negative information regarding recovery of the economy. It also revealed a huge inflation numbers which weren't this big since 1980's.
All of the things I have written above, as I stated earlier, had negative impact on DX, and related to that, positive/bullish impact on the Gold. The US10Y had traded within the neutral rectangle on daily chart, hence the Gold Spot showed strong correlation with DX during this week.
Greetings to all the investors that followed my call !!
The Gold Spot, once again, managed to reach the 1828,90 strong resistance and did not get enough momentum to break it, which makes it 4th time in the last 6 months that this type of rejection happens.
In my last two articles I wrote about how this week's four big fundamental events could possibly affect the Price action. All of them, including The Federal Reserve Chairman Jerome Powell's speech, as expected, had negative impact on DX (Dollar Index), which lost cca 0.794 throughout this week. The Consumer Price Index, Retail Sales and Initial Jobless Claims reports provided us with negative information regarding recovery of the economy. It also revealed a huge inflation numbers which weren't this big since 1980's.
All of the things I have written above, as I stated earlier, had negative impact on DX, and related to that, positive/bullish impact on the Gold. The US10Y had traded within the neutral rectangle on daily chart, hence the Gold Spot showed strong correlation with DX during this week.
Greetings to all the investors that followed my call !!