Gold Retreats In Déjà Vu Ahead Of U.S. Data

U.S.-China trade hopes extend equity surge; central banks supportive

By FxGrowForexJun 01, 2017 08:38AM ET

www.investing.com/analysis/gold-retreats-as-d%C3%A9j%C3%A0-vu-ahead-of-u.s-data-200192574

Gold Retreats In Déjà Vu Ahead Of U.S. Data

By FxGrow | Jun 01, 2017 08:38AM ET

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Gold peeked yesterday to 1274.13 with expectation for further advances as market over-passed 1270 level (R1), and closed at 1268.85. But as previous retreats for gold abandoning 1270 level and 1275 (R2) still creeps into mind, which justifies the precious metal retracements.

Technically, gold remains above its daily 50-EMA at 1250, which sustains the bullish momentum and Gold destination remains upward, but in case market closed today below 1250 (S3), the trend will shifty bearish and the expectations for further decline prevails. Expectations for penetration for support and resistance levels should be taken into consideration due to U.S Data release shortly.

Trend: Bullish Sidways

Resistance levels : R1 1270, R2 1275, R3 1280, R4 1288

Support levels : S1 1265, S1 1259, S3 1254, S4 1251

Comment: Gold remains bullish as long as market closes above 1250, otherwise, trend reversal should be taken into consideration. Expect spikes to fight R2 and R3 levels as recent behavior. Also, dips should fight S1 and S3 levels. Look forward for U.S Data which is a main player today for gold.

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Central Banks

Interest Rates

Next Meeting

FED

2.50%

Mar 20, 2019

ECB

0.00%

Mar 07, 2019

BOE

0.75%

Mar 21, 2019

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-0.75%

Mar 21, 2019

RBA

1.50%

Mar 05, 2019

BOC

1.75%

Mar 06, 2019

RBNZ

1.75%

Mar 27, 2019

BOJ

-0.10%

Mar 15, 2019

CBR

7.75%

Mar 22, 2019

RBI

6.25%

Apr 04, 2019

PBOC

4.35%

BCB

6.50%

Mar 20, 2019

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SPDR S&P 500	277.85	+0.48	+0.17%
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ProShares Ultra VIX Short-Term Futures	46.5300	+0.0400	+0.09%
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Gold Retreats In Déjà Vu Ahead Of U.S. Data

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