May God’s peace, blessings, and mercy be upon you
Praise God for knowledge and experience
Regarding last week’s price movement, according to our previous analysis:
Last week, it closed on a strong negative note after forming a new high.
Technically: a test of the daily cumulative level of ascent (specified in our previous article) in two levels in an attempt to break through, while prices failed to enter, which gave a strong selling impulse with a close buy position, until prices closed below. the level of the smallest multiple for October at (2741) with the End of the last session of the last week.
Gold in numbers last week
Top of the week 2790
Weekly low rate 2724
2747 weekly opening
Closing weekly 2736
Daily motor rate 0.57%
weekly motor average 13.2%
The average price is $66
A downward correction from the highest peak is at 54%
The correction rate up from the lowest low is 589%
The actual drop rate is 9%.
average of the week 2757
The cumulative daily average is 2777
The average daily drop is 2660
Weekly trade volume 841K
Open trade 81%
Closed deals 19%
At the level of indirect and direct relationships of factors that affect … According to the law of price elasticity of demand
1 – Increase in output American
At an increasing rate of
US02Y: 0.105%
US05Y: 0.163%
US10Y: 0.144%
US20Y: 0.109%
US30Y: 0.079%
changed so far +2.33% compared to yesterday
With a daily trend rate of 0.040%
0.001% compared to yesterday.
With a daily transfer rate of 0.008%
Decision in the mathematical analysis according to the law of price elasticity of demand for this week
Gold breaking the 2768 level and holding and closing a daily candle above are supportive targets
2803
2833
2864
Gold breaks the 2702 level and holds and closes a daily candle below the bearish targets
2669
2635
2601
On a basic level for the past week:
9.2 Considered.
537K on estimate.
123K on estimate.
0.2% compared to the previous trading day
0.1% compared to the previous trading day.
– A reduction in the weekly rate of unemployment complaints.
13k on estimate.
0.1% compared to the previous trading day.
94k on estimate.
211k on the previous one.
0.7% compared to the previous trading day.
– Noticeable change in the interest rate checker after the data series was issued.
The most important economic data and reports for this week:
– US presidential elections.
-.
-.
-.
Time and Sports View (Weekly)
-The general trend for gold is going up while prices are trading above the 2590 level, which is the lower part of the daily correction.
-The subtrend for gold is bullish as prices trade above the 2641 level, which is the lower part of the correction on the 4-hour frame.
The upper part of the correction on the 4-hour frame (2778)
-The secondary trend for gold is bullish while prices are trading above the 2672 level, which is the lower part of the correction on the hourly frame.
Maximum clock frame correction (2803)
1- If the 2702 level is confirmed, three consecutive candles on a 4-hour frame should not close with all the bodies below the level.
2- Closing and consolidating a daily candle at the high of 2741 after the first condition is met.
3- Stability and closing of three consecutive candles on the 4-hour frame above the 2778 level (the upper part of the correction on the 4-hour frame).
4- Closes a daily candle with its full body above the current peak of 2790.
Conditions for prices to fall to test the lower part of the correction on the daily frame at 2590.
1- The current roof should not be tested at all.
2- If the 2741 level is confirmed, a daily candle cannot be closed above the level.
3- Closing the full day below 2702 and not testing the 2717 level after the close if candles are corrected and closed on large frames.
4- Closing three consecutive candles on a 4-hour frame below the 2672 level with their full bodies below the level.
5- Closing a daily candle below the level of 2641. The lower part of the correction on the daily frame is the down target (2590).
Our strategy for this week
We are gold sellers as long as prices trade above the 2778 level and the daily candle does not close above the level If the candle closes above the level, the best option is to buy suitable for us, meaning that with every increase there is an opportunity to sell while prices are still below the 2778 level.
And with God’s blessing
(we are talking day trading here my friend)
Our crafts last week
Sell trade from 2790 level. The deal was closed at 2746 level
“This analysis is a technical, mathematical and fundamental analysis of economic data and reports, and it is far from the tensions and events that are happening and may happen in the world, because it has certainly been known to everyone about gold trends. depending on the strength of the news.”
This analysis is a personal opinion and has nothing to do with a buy or sell recommendation
Join us, my friend, to know the daily trend on our Telegram channel @trendlinetradingUAE, the link is in the profile.
Have a great week everyone
2024-11-03 22:27:00
#weeks #important #gold #rates #expectations #Federal #Reserve #Investing.com
