Gold: Fundamental Factors
1) Since the middle of last month, the U.S. currency, as measured by the DXY index, is up roughly 3.5%, reaching levels not seen since 2002. During this particular period, real yields, the true gauge of borrowing costs, have also soared, with the 10-year TIPS surging more than 50 basis points to 0.86%, matching June’s multi-year high, turbocharged by falling inflation expectations and the central bank’s hawkish stance.
2) US FED has decided to increase the interest rate by 75 bps point by 75% chance in September , and it is by investor confirmation.
3) Unemployment claims is forecasted higher but looking at previous data,it has been lower and the current data is being at 223000.
Fundamental Range is between 1710- 1728,still holding the same range as yesterday.
XAUUSD: The trend is Bearish
Gold : Technical Analysis
Check on the daily chart
The resistance and the support area is the same .
1) Resistance area : 1726.60-1730
2) Support area : 1690-1695
Seek for sell or buy opportunity , entry at lower timeframe to enter for self confirmation or based on your own technical analysis understanding.
XAUUSD :Trend is Bearish
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Disclaimer : This analysis is based on Investing.com and Forexfactory.com. You may follow based on your own discreetion.
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