Opportunity to grab $10 In Gold During U.S. Session

U.S. Prelim UoM Consumer Sentiment

The U.S. will release Prelim UoM Consumer Sentiment data around 1400 GMT/1930 IST. This data is derived via survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions. If actual data comes higher than forecasted 75.0, it will be good for U.S. dollar.

Let’s see how Gold has reacted during the previous data release:

Aug 14

July 17

Technical View:

XAU/USD: Gold consolidates around $1,940 mark. Today pair made intraday high at $1,956 and low at $1,944 mark. A sustained close above $2,001 requires for the upside rally. Alternatively, reversal from key resistance will take the parity down towards key supports around $1,932, $1,922, $1,910, $1,902, $1,890, $1,862, $1,840, $1,822, $1,809 and $1,787 mark respectively. Key resistances are seen at $1,972, $1,982, $1,994, $2,008, 2,020, 2,038 and $2,063 marks respectively.

Take a look and do trade wisely!

Good Luck