Gold: Intraday Trading Ranges along with Analysis

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EURUSD: Breaking its fresh highs above 1.2100

  • Outlook on USD
  • Technical Chart of GOLD

Gold after breaking 3 months high trying to stay on the highs where USD index approaching support. Lets see how it would get for today’s session and what we should look at to trade perspective.
We seen political events such as USA government shutdown .
Secondly we have seen the ongoing Brexit talks due .The recent Brexit talks made a new and Bullish rally in EUR and GBP pairs across the board in currency exchange market.The effect of dollar over base metals and Global Indices.e should not Neglect the power of dollar in this case of volatility.

Lets have look On Gold in this article of BizAsis,

As we can see above the gold is currently trading at 1360 -1355 zone .this zone where gold is holding is above the 3 months high of gold. as we speak Technically or on Levels Basis The gold would now be waiting for the several economic events shown below.


Today

  USD New Home Sales (Dec) 676K 733K


Tomorrow we have,

  USD Core Durable Goods Orders (MoM) (Dec) 0.5% -0.1%


  USD GDP (QoQ) (Q4)   3.0% 3.2%


Traders might keenly watching these levels for the further Trades
in Gold ,as of now gold is holding bullish on charts.

the levels of Resistances we could see as 1370-1375 Zone .
the Support levels in Gold are  1350-1345 Zone below which Sellers might take their position.

About Trend is quite up since last interest hike we have seen steep rise in gold across.and the rally is stretched in here upto 1360 levels. it mostly depends now on the US economic growth.

Recently,

US Mnuchin Said Weaker Dollar Is Good For Trade – BBG TV”

And that’s the statement of focus to stay bearish on Dollar.

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