In the previous week, gold has made -90.51 loss, AND it has lost -8.8 points in the last trading session. XAU/USD may slip from here for $1916 to $1900 levels.
Gold Strong Support $1686 too far away now. In the previous week's trading sessions, it has touched the support trendline and took a reversal. Hence, according to this chart, we may see $2000 - $2036+ levels soon.
The downtrend will start after breakdown of the support trendline. At present, it's positive for the upcoming days. And next hurdle for traders is the $1986 level. This hurdle's breakout can boost the price instantly to the above-mentioned upward levels.
The following (major) event/inventories can affect gold prices:
Monday:
USD Gold Index
Actual 54.9% | Previous 49.3%
USD/JPY Index
Actual 46.0% | Previous 45.0%
Wednesday:
USD API Weekly Crude Stock
Actual -4.400M | Previous -8.587M
U.S. Crude Oil Inventories
Actual -4.512M | Previous -7.373M
U.S. Crude Oil Imports
Actual -0.713M | Previous 1.256M
U.S. Cushing Crude Oil Inventories
Actual 1.336M | Previous 0.532M
Gold Strong Support $1686 too far away now. In the previous week's trading sessions, it has touched the support trendline and took a reversal. Hence, according to this chart, we may see $2000 - $2036+ levels soon.
The downtrend will start after breakdown of the support trendline. At present, it's positive for the upcoming days. And next hurdle for traders is the $1986 level. This hurdle's breakout can boost the price instantly to the above-mentioned upward levels.
The following (major) event/inventories can affect gold prices:
Monday:
USD Gold Index
Actual 54.9% | Previous 49.3%
USD/JPY Index
Actual 46.0% | Previous 45.0%
Wednesday:
USD API Weekly Crude Stock
Actual -4.400M | Previous -8.587M
U.S. Crude Oil Inventories
Actual -4.512M | Previous -7.373M
U.S. Crude Oil Imports
Actual -0.713M | Previous 1.256M
U.S. Cushing Crude Oil Inventories
Actual 1.336M | Previous 0.532M
Trade closed: target reached:
The first target of Crude Oil has come. Further information I will update you soon.
