Fundamental Factors
1)Inflation data is likely to be lower however FED is still insisting on 75 bps hike in interest rate U.S. CPI inflation data, which is due at 8:30 ET (12:30 GMT) on Tuesday, is expected to show inflation eased to an annual rate of 8.1% in August, from the prior month’s reading of 8.5%.
2) Copper price increased due to the strike at the Escondida mine which help for gold price to increase.
3) US is trying its best to improve its economy however investors awaiting for the US inflation for more confirmation.
Fundamental Range is between 1700 to 1732
XAUUSD : Trend is BULLISH
Technical Analysis
Check on the daily chart by checking on the pivot point and SNR.
Resistance area: 1732.75, 1738.27,1747.21
Support area: 1700.41,1709.35,1714.87
Confirm with technical indicators and based on your own technical analysis.
Check investing.com to get more info on what most indicator would display
Follow the pivot point on which timeframe that you will be trading , support it with the technical analysis.
Seek for sell or buy opportunity , entry at lower timeframe to enter for self confirmation or based on your own technical analysis understanding.
XAUUSD :Based on your own technical Analysis.
Higher timeframes are strong sell, smaller timeframe is is strong buy.
Advisable not to enter a trade, when the higher timeframe and the lower timeframe is not align.
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Disclaimer : This analysis is based on Investing.com and Forexfactory.com. You may follow based on your own discreetion.
This analysis is also from Financial Market Research Centre (FMRC)collabrating with Weltrade.
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