How to trade metals during U.S. Session?
Today’s U.S. session is empty as no key indicators are scheduled to release but FOMC member Williams speech is scheduled at 1330 GMT/1900 IST, which may give volatility to the FX markets. Williams is due to speak about inflation at a webinar co-hosted by Bank of Israel and Centre for Economic Policy Research.
XAU/USD (GOLD):
Technical View:
- The gold starts a new week on a lower note and hovers around $1,800 mark.
- The pair made intraday high at $1,810 and low at $1,798 mark.
- Currently, a day chart and H1 chart with triple EMA suggests down trend for the time being.
- A sustained close above $1,809 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,794 will check further supports.
| SUPPORTS | RESISTANCES |
| $1,789 | $1,809 |
| $1,784 | $1,815 |
| $1,778 | $1,821 |
| $1,772 | $1,827 |
| $1,765 | $1,832 |
XAG/USD (SILVER):
- Silver remains volatile on Monday and consolidates around $26.00 mark.
- The pair made intraday high at $26.28 and low at $25.87 mark.
- A day as well as H1 chart suggests down trend for the time being.
- A sustained close above $26.18 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $25.82 on H1 Chart will check further downside supports too.
| SUPPORTS | RESISTANCES |
| $25.76 | $26.18 |
| $25.71 | $26.24 |
| $25.67 | $26.31 |
| $25.61 | $26.36 |
| $25.52 | $26.40 |
Take a look and do trade wisely!
Good Luck
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