U.S. Factory Orders
Today U.S. will release Factory Orders data at 1400 GMT/1930 IST. This 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:
- Gold consolidates around $1,810 mark.
- Today pair made intraday high at $1,813 and low $1,808 mark.
- A day chart and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $1,815 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,808 will check further supports.
Take a look and do trade wisely!