Daily Analysis For GOLD (XAUUSD)   03-08-2022

Daily Analysis For GOLD (XAUUSD) 03-08-2022

Description
Economic Events :-
  • GMT *** Event
  • 14:45 *** (United States) S&P Global Composite PMI
  • 14:45 *** (United States) S&P Global Services PMI
  • 15:00 *** (United States) ISM Non-Manufacturing PMI
  • 15:00 *** (United States) Factory Orders MoM
  • 15:30 *** (United States) Fed Harker Speech
Today's Scenario :- After printing a bottom of $1,755.00 in the Asian session, the price of gold has shown a responsive purchasing action. The precious metal saw a correction wave following a two-week long juggernaut rise.
Buy Scenario :- In the event that buyers retake control over the $1,770 supply zone, the Gold forecasts a challenge of the 50 DMA barrier. The previous day's high of $1,788 is marked as the next important upward obstacle, we do not advise buying XAU/USD.
Selling Scenario :- On the other hand, for Wednesday's drop to continue below the critical $1,750 level, bears must find acceptance below the previous day's low of $1,760. Until then, we do not advise selling XAU/USD.
Support and Resistance Level :-
  • S1 1918 *** R1 1959
  • S2 1891 *** R2 2001
  • S3 1828 *** R3 2050

Discussion

default man
Explore
Trade360 Review 2023: Account Options, Trading Hours, Security Measures, Pros and Cons

Trade360 Review 2023: Account Options, T...

Finexo Review 2023: Account Types, Spreads, Customer Support and Expert Analysis

Finexo Review 2023: Account Types, Sprea...

eToro Review 2023:  Trading Platforms, Instrument Variety Pros and Cons

eToro Review 2023: Trading Platforms, I...

Comprehensive Review of FXTrading.com: Pros and Cons of a Leading Trading Platform

Comprehensive Review of FXTrading.com: P...

Sky Alliance Markets Review 2023: Pros, Cons, and Trading Features

Sky Alliance Markets Review 2023: Pros, ...

;