English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishGold Trades Flat Ahead of Current Account data, $6+ Volatility Expected; June 23, 2021
U.S. Current Account
Today U.S. will release quarterly Current Account Data at 1230 GMT/1800 IST. It’s directly linked to currency demand – a rising surplus indicates that foreigners are buying more of the domestic currency to execute transactions in the country. The goods and services portion has no impact because it’s a duplicate of the monthly Trade Balance data.
Let’s see how Gold has reacted during the previous data release:
March 23:
Dec 18:
Technical View:
XAU/USD (Gold):
- Gold moves in rigid boundaries and stabilizes around $1,780 mark.
- The pair made intraday high at $1,783 and low at $1,777 mark.
- A day chart and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $1,790 requires for the upside rally.
- Alternatively, a consistent close below $1,774 will check further supports.
| SUPPORTS | RESISTANCES |
| $1,774 | $1,790 |
| $1,768 | $1,794 |
| $1,762 | $1,799 |
| $1,757 | $1,805 |
| $1,751 | $1,812 |
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