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SpanishKey U.S. Indicators to Keep in Mind while Trading in Gold during U.S. Session; July 26, 2022
Key U.S. Indicators to Keep in Mind while Trading in Gold during U.S. Session
Today’s U.S. Calendar will remain light as U.S. has scheduled to release HPI (House Price Index) data at 1300 GMT/1830 IST and Richmond Manufacturing Index data at 1400 GMT/1930 IST.
HPI is a leading indicator of the housing industry’s health because rising house prices attract investors and spur industry activity while Richmond Manufacturing Index data derived via a survey of about 55 manufacturers in the Richmond area which asks respondents to rate the relative level of business conditions including shipments, new orders, and employment.
Let’s see how gold has reacted during the previous data release:
June Results:
May Results:
Technical View:
XAU/USD (Gold):
- Gold falls noticeably in European Session and hovers around $1,720 mark.
- The pair made intraday high at $1,727 and Low at $1,716 mark.
- A day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $1,728 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,718 on H1 chart will test further supports.
|
Supports
|
Resistances
|
|
$1,716
|
$1,728
|
|
$1,712
|
$1,732
|
|
$1,708
|
$1,738
|
|
$1,702
|
$1,742
|
|
$1,696
|
$1,748
|
Take a look and do trade wisely!
Good Luck
