Gtag:

A Short Term Outlook: XAU/USD (Gold); April 18, 2022

A Short Term Outlook: XAU/USD (Gold)

Today’s U.S session is light as U.S. will release NAHB Housing Market data at 1400 GMT/1930 IST. It is derived via a Survey of about 900 home builders which asks respondents to rate the relative level of current and future single-family home sales. Above 50 indicates a favorable outlook on home sales, below indicates a negative outlook.

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

March 16:

Feb 16:

Let’s check out key headlines from Russia –Ukraine:

  • After Russian pullback, Ukraine’s northern Sumy region prepares for new assault.
  • Russia said on Monday it had launched mass strikes overnight on the Ukrainian military and associated military targets, using its air force, missile forces, artillery and air defence systems to hit hundreds of targets across its southern neighbour.
  • The Russian defence ministry said in a statement that air-launched missiles had destroyed 16 Ukrainian military facilities overnight, including five command posts, a fuel depot and three ammunition warehouses, as well as Ukrainian armour and forces.
  • Lviv and the rest of western Ukraine have been less affected by the fighting than other parts of the country, and the city was considered to be a relatively safe haven.
  • The Russian forces have eliminated more than 470 Ukrainian drones since the start of the special military operation in Ukraine, Russian Defense Ministry spokesman Igor Konashenkov said.
  • Volodymyr Zelenskyy urges US President Joe Biden to visit his country.

Source:Timesofindia

Technical View:

XAU/USD:

  • Gold trades marginally higher on Monday and touches $1,993 mark in early U.S. session.
  • The pair made intraday high at $1,993 and low at $1,972 mark.
  • A day chart and H1 chart with triple EMA suggest Bullish trend for the time being.
  • A sustained close above $1,994 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,976 will check further supports.
Supports
Resistances
$1,976
$1,996
$1,970
$2,002
$1,964
$2,008
$1,957
$2,014
$1,952
$2,020

 
Take a look and do trade wisely!
Good Luck

Tags
Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts

Categories

Headquarter

Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:
support@tpglobalfx.com

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses because of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

mappin at-sign phone close