Gtag:

Let’s Check Out Key U.S. Indicators for the Day, Extreme Volatility Likely in Gold; Nov 24, 2021

Key U.S. Indicators to Keep in Mind During U.S. Session:

Today’s U.S. session is Full of Fundamental Indicators. Today various indicators are releasing at the same time, in case of mixed data release; U.S. dollar may get volatile against major peers. First at 1330 GMT/1900 IST, U.S. Prelim GDP q/q, Durable Goods Orders, Core Durable Goods Orders and Goods Trade Balance data.

Let’s take an overview how gold moved durign the previous Prelim GDP q/q Data. It’s the broadest measure of economic activity and the primary gauge of the economy’s health. There are 3 versions of GDP released a month apart – Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact.

U.S. Prelim GDP q/q:

Aug 26:

May 27:

Let’s see how Gold has reacted During the Previous data of Personal Income & Spending:

Oct 29:

Oct 01:

Technical View:

XAU/USD:

  • Gold moves in rigid boundaries ahead of U.S.’s hectic session.
  • Today pair made intraday high at $1,796 and low at $1,788 mark.
  • A day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $1,798 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,789 on H1 chart will check further supports.
SUPPORTS RESISTANCES
$1,787 $1,798
$1,781 $1,804
$1,776 $1,809
$1,772 $1,814
$1,764 $1,820

Take a look and do trade wisely!
Good Luck

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