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SpanishKey Indicators to Keep in Mind While Trading in Gold During U.S. Session; March 24, 2022
Key Indicators to Keep in Mind While Trading in Gold During U.S. Session:
Today U.S. will release Durable & Core Durable Goods orders data at 1230 GMT/1800 IST and there after U.S. Flash PMI data at 1345 GMT/1915 IST. Both the indicators are 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 durign the previous data release:
Feb Results:
Jan Results:
Let’s have quick updates on Russia – Ukraine:
Technical View:
XAU/USD (GOLD):
- Gold spikes up sharply in early U.S. Session and hits highest level since March 14, 2022.
- Today pair made intraday high at $1,953 and low at $1,937 mark.
- A triple EMA on a day chart and H1 chart suggest bullish trend for the time being.
- A sustained close above $1,954 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,938 will check further supports.
| SUPPORTS | RESISTANCES |
| $1,938 | $1,955 |
| $1,932 | $1,962 |
| $1,926 | $1,968 |
| $1,921 | $1,974 |
| $1,915 | $1,981 |
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