Be Attentive Ahead of U.S. Fundamentals, Gold Likely to bring $10+ Volatility in Each News; May 04; 2021

U.S. Trade Balance & Factory Orders Data

Today U.S. has scheduled to release Trade Balance Data at 1230 GMT/1800 IST and Factory Orders data at 1400 GMT/1930 IST. The goods portion has a muted impact because it’s a duplicate of the Goods Trade Balance data released about 5 days earlier. A positive number indicates that more goods and services were exported than imported. In addition Factory Orders report contains a revision of the Durable Goods Orders data released about a week earlier, and fresh data regarding non-durable goods. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

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

April Data Movement:

March Data Movement:

Technical View:

XAU/USD (Gold): Gold has started a new trading day on a lower note and pair touched $1,781 mark in European hours. Pair is likely to take a halt around $1,780 mark as markets eye key U.S. economic indicators. Today pair made intraday high at $1,793 and low at $1,781 mark. A sustained close above $1,793 on H1 chart requires for the upside rally. Alternatively, a consistent close below $1,778 will check further supports.

Key Resistances: $1,793, $1,798, $1,805, $1,812, $1,818

Key Supports: $1,778, $1,772, $1,767, $1,762, $1,756

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

Offices

305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines

Mail us

Drop mail at:
support@tpglobalfx.com

Contact us

Call or Whatsapp
+1 7754366970

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 as a result 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. This site is run and operated by - TP Global Services Limited registered by St. Vincent and the Grenadines with Number 25274 BC 2019. Registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines

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.

TP Global Services Limited is registered with NFA (National Futures Association) USA with Registration Number 0533098.

mappin at-sign phone close