Gold Analysis==>>Pumping
Updated
Today, U.S. Retail Sales figures were released. Retail sales increased by 0.7%, surpassing the forecast of 0.6%. However, Core Retail Sales rose by only 0.2%, below the anticipated 0.4%.
These figures indicate continued strength in U.S. consumer spending, which can lead to a stronger U.S. dollar(
DXY) . A stronger dollar typically exerts downward pressure on gold prices, as gold is priced in dollars, making it more expensive for international investors when the dollar appreciates.
However, it's important to note that multiple factors influence gold prices, including upcoming Federal Reserve decisions on interest rates and global economic conditions.
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Gold(
XAUUSD) continued to fall as I expected and is currently moving through the Support zone($2,642-$2,620) and the Potential Reversal Zone(PRZ)[$2,637-$2,625].
According to Elliott's wave theory, Gold seems to be completing wave 5.
Also, we can see the Regular Divergence(RD+) between Consecutive Valleys.
I expect Gold to start rising again from the PRZ and Support lines and attack the Resistance lines.
⚠️Note: If Gold breaks the Support zone($2,642-$2,620), we can expect more dumps.⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
These figures indicate continued strength in U.S. consumer spending, which can lead to a stronger U.S. dollar(
DXY) . A stronger dollar typically exerts downward pressure on gold prices, as gold is priced in dollars, making it more expensive for international investors when the dollar appreciates.However, it's important to note that multiple factors influence gold prices, including upcoming Federal Reserve decisions on interest rates and global economic conditions.
----------------------------------------------
Gold(
XAUUSD) continued to fall as I expected and is currently moving through the Support zone($2,642-$2,620) and the Potential Reversal Zone(PRZ)[$2,637-$2,625].According to Elliott's wave theory, Gold seems to be completing wave 5.
Also, we can see the Regular Divergence(RD+) between Consecutive Valleys.
I expect Gold to start rising again from the PRZ and Support lines and attack the Resistance lines.
⚠️Note: If Gold breaks the Support zone($2,642-$2,620), we can expect more dumps.⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Position was activated when downtrend line was broken.Note
Gold Great pump, as I expected.
Note
The first target was touched.
Gold can increase again from the zone that I specified in the chart.
⚠️Note: US indices (Federal Funds Rate, FOMC Economic Projections, FOMC Statement) can affect the trend of Gold.
Trade closed: target reached
The first target is done.
The Federal Funds Rate was published like the forecast. It caused a decrease in gold.
I had warned you.
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