XAUUSD - Weaker in lazy Summertime trading
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Gold prices slightly declined in the US midday trading session on Monday. The market was calmer and more peaceful at the start of the week, allowing traders to rely on price charts and technical indicators, which still indicate an overall short-term downward trend for gold. However, it has been a positive week for US economic reports, including key inflation data due later this week. The August gold last dropped $3.6 to $1,928.
US stock indices were mixed at midday. Important foreign markets saw a weaker US dollar index. Nymex crude oil prices remained stable, trading around $73.75 per barrel. The 10-year US Treasury bond yield is currently at 4.044%.
US stock indices were mixed at midday. Important foreign markets saw a weaker US dollar index. Nymex crude oil prices remained stable, trading around $73.75 per barrel. The 10-year US Treasury bond yield is currently at 4.044%.
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🐾 SELL XAUUSD zone 1934 - 1937 (scalping)⚠️ Stop Loss : 1940
💲 Take Profit 1: 1930
💲 Take Profit 2: 1927
💲 Take Profit 3: 1924
Đóng lệnh: đạt mục tiêu
⭐️Plan to SELL Successfully Take Profit 1 + 80pips 💲💲💲Bình luận
🐾 SELL XAUUSD zone 1950 - 1947 ⚠️ Stop Loss : 1955
💲 Take Profit 1: 1935
💲 Take Profit 2: 1930
💲 Take Profit 3: 1925
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Some economists and market analysts have said this is a surprising deflationary signal as the supply of used cars remains; however, the supply of new vehicles for sale is improving as demand weakens.All eyes are now on Wednesday's Consumer Price Index. According to consensus estimates, economists are looking for annual consumer prices to rise 3.1%, down from 4% reported in May.
The weak inflation data is not having an immediate impact on interest rate expectations. The CME FedWatch Tool shows that markets continue to brace for a 25-basis point hike from the Federal Reserve later this month.
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From a technical standpoint, gold seems ready for a breakthrough with a bullish flag pattern and many indications of price action. We have seen higher highs and higher lows since dropping below the psychological level of $1,900 on June 29th.My only concern about a price breakthrough at this stage is the important consolidation area around $1,950 while the 50-day MA is slightly higher at $1,959. A higher breakout may bring resistance around $1,980.
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🐾 SELL XAUUSD zone 1967 - 1965⚠️ Stop Loss : 1972
💲 Take Profit 1: 1955
💲 Take Profit 2: 1950
💲 Take Profit 3: 1945
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