GOLD WEEKLY OUTLOOK
FUNDAMENTAL
BULLISH:
-global weak data - brexit - trade war tensions (china buy 20bn instead of 50bn agriculture, Russia support china, middle east tensions on oil, eu)+ weak usd (nfp, slow job growth, employment)-us30 to take a dip.
BEARISH:
-brexit resolution, trade war relief of SIGNITURES, strong data
WEEKLY:
premium buy orders around 1488 & 1450
strong weekly support (1465, 1415, 1565)
DAILY:
1515 strong resistant area, daily bearish trend broken
Safer entries: wait 1505/1515/ 1480 break and retest
If break 1480: strong data
*1510 max
Market structure 1404-1518: must retrace 50% - FOR SELL
Just overall awaiting price to set up for the data ahead this week. Main bias is the upside.
BULLISH:
-global weak data - brexit - trade war tensions (china buy 20bn instead of 50bn agriculture, Russia support china, middle east tensions on oil, eu)+ weak usd (nfp, slow job growth, employment)-us30 to take a dip.
BEARISH:
-brexit resolution, trade war relief of SIGNITURES, strong data
WEEKLY:
premium buy orders around 1488 & 1450
strong weekly support (1465, 1415, 1565)
DAILY:
1515 strong resistant area, daily bearish trend broken
Safer entries: wait 1505/1515/ 1480 break and retest
If break 1480: strong data
*1510 max
Market structure 1404-1518: must retrace 50% - FOR SELL
Just overall awaiting price to set up for the data ahead this week. Main bias is the upside.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.