Gold Price Forecast: XAUUSD eyes $1,662 hurdle amid pre-NFP rebound – Confluence Detector – by anilpanchal7 Gold XAUUSD Confluences NFP Commodities
That said, the XAUUSD bulls are hopeful amid the downbeat US inflation expectations and mixed US data that weigh on the greenback. Furthermore, expectations of easing covid-led activity restrictions in China and the news suggesting early closing of the US audit inspections in China also favored the risk-on mood of late.
That said, the middle band of the Bollinger on one-day, around $1,654, seems to guard the quote’s immediate upside. Meanwhile, sellers may wait for a clear downside break of $1,638 to retake control, comprising 50-HMA, 5-DMA and the previous weekly low.Here is how it looks on the toolThe TCD is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, , Pivot Points, etc. If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points at a time.
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