English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishGold Moves in Rigid Boundaries Ahead of U.S. Factory Order Results, $9+ Volatility Likely in Gold; Aug 03, 2021 Gold-Moves-in-Rigid-Bound
U.S. Factory Orders
Today U.S. will release Factory Orders data at 1400 GMT/1930 IST. This report contains a revision of the Durable Goods Orders data released about a week earlier, and fresh data regarding non-durable goods. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
Let’s see how Gold has reacted during the previous data release:
July 02:
June 04:
Technical View:
XAU/USD (Gold):
- Gold consolidates around $1,810 mark.
- Today pair made intraday high at $1,813 and low $1,808 mark.
- A day chart and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $1,815 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,808 will check further supports.
| SUPPORTS | RESISTANCES |
| $1,802 | $1,815 |
| $1,796 | $1,819 |
| $1,791 | $1,824 |
| $1,785 | $1,830 |
| $1,776 | $1,834 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills