Yesterday's Gold market price did not show much reaction to the current price

Yesterday's market price did not show much reaction to the current price except that the $ 3 movement from the 1787.00 price is counted as a horizontal market movement.  Today the market opens at 1796.00 where the price is the height of the previous market price.


From the technical aspect what can be seen here is, the price is testing at the last high, and these are the nearest support and resistance levels, among them are:

 S1: 1793.00
 S2: 1787.00
 S3: 1777.00
 -------------------
 R1: 1799.00
 R2: 1805.00
 R3: 1815.00

So between each of these levels you can see if there is any breakout accompanied by other techniques, it can be used as a trading guide and head to the next nearest level to be used as a take profit.

So the question is, will today's Friday market be able to further increase the current market price, or vice versa.  Let’s take a look at when the US market opens tonight.

Follow us to always know the science of Forex Trading as well as the latest updates on technical analysis & fundamental analysis

Comments

Post a Comment

Popular posts from this blog

When is the Canadian monthly jobs report and how could it affect USD/CAD?

Image
  Canadian employment details overview Statistics Canada is scheduled to publish the monthly employment details for July later this Friday at 12:30 GMT. The Canadian economy is anticipated to have added 20K jobs during the reported month, up sharply from the 43.2K decline reported in June. Meanwhile, the unemployment rate is expected to edge higher to 5.0% in July from the 4.9% previous. Analysts at TD Securities (TDS) are more optimistic about the report and explain: “We look for job growth of 38k in July, driven by a partial rebound for trade services and natural resources after their sharp decline in June. Full-time hiring should lead the increase, while stronger labour force participation should keep unemployment stable at 4.9%. We also expect to see wage growth firm to 6.0% y/y in July, although AHE (Average Hourly Earnings) should slow on a m/m basis.”
Read more

yesterday's trading session, precious metal Gold had 1 day of decline from 1990 to 1950

Image
  Comment on Gold on March 15, 2022: - In yesterday's trading session, precious metal Gold had 1 day of decline from 1990 to 1950, closing the day session with a bearish candle with quite strong force and Gold also dropped quite deeply at $121 in terms of price. from the "peak" of 2070, plus in the early morning of this morning Gold fell to the threshold of 1939, so it is not possible to exclude the possibility that Gold will bounce back and rebound. - On the daily chart, Gold is also touching a fairly wide support area and in my opinion the buying plan will be more reasonable than selling. In today's trading session, I expect Gold to recover and gain after a series of days of falling around the 1974 price level. If Gold can surpass this price range, it is likely to increas
Read more

forexadviseclub Expands Trading Services in Canada

Image
forexadviseclub  the brokerage brand owned by StoneX Group, announced on Wednesday that it has expanded its trading services in the Canadian market. Services in the market are being offered by the locally established GAIN Capital- FOREX.com Canada Limited but under its generic Forex.com brand. Its offerings are fully regulated as it is a member of the Investment Industry Regulatory Organization of Canada and also of the Canadian Investor Protection Fund. “Our mission at StoneX is to open markets, and this expansion of our FOREX.com offering in the Canadian market is an important part of providing comprehensive access to the retail investor,” said the CEO of StoneX Group, Glenn Stevens. Last October, the broker started offering its services in the Latin American markets  under a Cayman Islands license. Related content
Read more