11 Points profit and the position still running
11 Points profit, as the Gold Spot managed to breach h4 1807,90 resistance and the position is still running
As I anticipated during my last Sunday's commentary, the Gold Spot managed to breach the strong 1.807,90 resistance and is still rising towards the 1.828,90 strong resistance that Price action manage to reject 4 times in the last six months.
The Federal Reserve Chairman Jerome Powell, during today's testimony, announced that the interest rate hike should not happen as soon as investors anticipated, and accordingly Dollar Index (American Dollar against basket of six other currencies, and those are Euro, Swiss Franc, Japanese Yen, Canadian dollar, British pound and Swedish Krona) traded with losses (-0,37%) currently at 95.594, which added huge buying pressure on the Gold.
The Gold also managed to break the h4 1817,90 support/resistance and thereby throughout tomorrow's session, I once again expect the 1.828,90 strong resistance test.
All eyes for tomorrows session are on U.S. Consumer Price Index which will be released at 14:30 CET.
The 1.828,90 strong resistance test is inevitable, and if broken the Price Action will be running towards the 1867,90.
As I anticipated during my last Sunday's commentary, the Gold Spot managed to breach the strong 1.807,90 resistance and is still rising towards the 1.828,90 strong resistance that Price action manage to reject 4 times in the last six months.
The Federal Reserve Chairman Jerome Powell, during today's testimony, announced that the interest rate hike should not happen as soon as investors anticipated, and accordingly Dollar Index (American Dollar against basket of six other currencies, and those are Euro, Swiss Franc, Japanese Yen, Canadian dollar, British pound and Swedish Krona) traded with losses (-0,37%) currently at 95.594, which added huge buying pressure on the Gold.
The Gold also managed to break the h4 1817,90 support/resistance and thereby throughout tomorrow's session, I once again expect the 1.828,90 strong resistance test.
All eyes for tomorrows session are on U.S. Consumer Price Index which will be released at 14:30 CET.
The 1.828,90 strong resistance test is inevitable, and if broken the Price Action will be running towards the 1867,90.
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