XAUUSD - ANALYSIS WITH US GDP , CORE PCE EFFECT
- There are some very sharp economic data to be released this week for the US dollar. For this reason, the GOLD will be slightly volatile on Wednesdays, Thursdays and Fridays. Among them are GDP DATA, CORR PCE DATA, CONSUMER CONFIDENCE, important DATA key.
- US10Y is currently at 2.83% LEVEL. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Also, when we look at the DXY, the DXY is up to 101.490 LEVEL.
- GOLD PRICE is below DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS.
- Currently the SENTIMENT of the OVERALL MARKET is NEGATIVE. Last week a RISK OFF TONE was PLAY. STOCKS Slightly shows a DOWN SIDE BIAS right now. And VOLATILITY is becoming UP. Also COMMODITIES still shows a DOWN SIDE BIAS. Currently there is only one DOWN SIDE BIAS in the market. So be careful when trading. We can not say for sure that the MARKET SENTIMENT will continue to be a DOWN SIDE CONTINUE. But according to the data available so far we can say that MARKETS RISK is OFF.
- GOLD PRICE can be UP again before DOWN. So GOLD can definitely go back to 1928 LEVEL. Then you can definitely DOWN GOLD price up to 1895 LEVEL.
If the TREND LINE is BREAK, GOLD can travel up to 1966 with a DXY or US10Y CORRECTION.
- However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.
- US10Y is currently at 2.83% LEVEL. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Also, when we look at the DXY, the DXY is up to 101.490 LEVEL.
- GOLD PRICE is below DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS.
- Currently the SENTIMENT of the OVERALL MARKET is NEGATIVE. Last week a RISK OFF TONE was PLAY. STOCKS Slightly shows a DOWN SIDE BIAS right now. And VOLATILITY is becoming UP. Also COMMODITIES still shows a DOWN SIDE BIAS. Currently there is only one DOWN SIDE BIAS in the market. So be careful when trading. We can not say for sure that the MARKET SENTIMENT will continue to be a DOWN SIDE CONTINUE. But according to the data available so far we can say that MARKETS RISK is OFF.
- GOLD PRICE can be UP again before DOWN. So GOLD can definitely go back to 1928 LEVEL. Then you can definitely DOWN GOLD price up to 1895 LEVEL.
If the TREND LINE is BREAK, GOLD can travel up to 1966 with a DXY or US10Y CORRECTION.
- However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.