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forex xauusd trend analysisaccording to fibonacci 1.272 is a high rejection zone considering previous order block zone of
2208-2210 so buyers will exit their position over there and the sell side trade will active according with bearish confirmation.
initiate the trade with bearish reversal pattern or any bearish engulfing candlestick confirmation
Gold price has not escaped from the decrease cycleHello everyone!
Today, the price of gold has dropped to its lowest point in 7 months. This decrease is a result of rising export benefits and inflation in the US, which is leading to expectations of tighter monetary policy.
Gold has been steadily declining since it failed to receive a price increase from $2068 USD and is now trading at $1823. While there have been some signs of recovery, they are not significant.
On the other hand, there has been a strong increase in the US dollar index (DXY) due to data showing an unexpected rise in job opportunities during August. In the previous session, this index experienced a breakthrough from over 105 points to over 106 points. This is significantly higher than the threshold of 100 points set back in mid-July.
Another factor contributing to gold's decline is its close relationship with oil prices, which have also cooled down recently.
NZD/USD continues to maintain the downtrendGreetings everyone!
The ascending trend in the 4-hour timeframe was disrupted by a significant breakthrough at 0.593. Consequently, the NZD/USD currency pair remains under selling pressure below the 0.5900 level, having failed to sustain above 0.6000 during early Asian trading on Tuesday. At present, this particular currency pair is being traded around 0.589, reflecting a decline of 0.9% for the day.
The increase in value of the US dollar (USD) and higher interest rates offered by the US Treasury have exerted considerable stress on NZDUSD exchange rate.
GOLD TODAY'S LEVELS FOREX GOLD XAUUSD TODAY LEVELS || 11/07/2022
GOLD SIGNALS
FOREX LEVELS TODAY
TODAY GOLD LEVELS
BUY SELL GOLD
Mercury Technicals is not an investment advisory service, or a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves.
warning: Note! The Analysis video shared here are for educational/informational purposes only.
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