Gtag:

Key Indicator and Event to Keep in Mind Before U.S. Session; Nov 29, 2021

U.S. Pending Home Sales Data

Today U.S. has scheduled to release Pending Home Sales data at 1500 GMT/2030 IST and thereafter U.S. Fed Chair Powell’s speech at 2005 GMT/0130 IST. Powell is due to deliver opening remarks at a webinar hosted by the Federal Reserve Bank of New York. As head of the central bank, which controls short term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy and brings volatility to the FX markets.

Pending Home Sale is a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

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

Oct 28:

Sept 29:

Technical View:

XAU/USD:

  • Gold trades marginally higher on Monday and remains well supported above $1,790 mark.
  • Today pair made intraday high at $1,799 and low at $1,769 mark.
  • A day chart and H1 chart with triple EMA suggest bullish trend for the time being.
  • A sustained close above $1,802 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,782 on H1 chart will check further supports.
SUPPORTS RESISTANCES
$1,782 $1,804
$1,776 $1,809
$1,772 $1,814
$1,764 $1,820
$1,760 $1,824

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