Hey there! It sounds like you’re ready to dive into the markets next week. Here are some key points to consider for your trading strategy:
Gold (XAU/USD) Trend: Gold is in a consolidative phase around $2,500. Watch for a breakout above $2,532 for potential bullish momentum. Support/Resistance: Key support at $2,470 and resistance at $2,532. A break above $2,532 could target $2,550 and $2,600. Factors: Keep an eye on US PCE inflation data and geopolitical tensions, especially between Russia and Ukraine. Forex (USD) US Dollar: The USD might face bearish pressure. Focus on employment data and Federal Reserve decisions. Key Influences: Potential Fed rate cuts and economic data like retail sales and employment figures will be crucial. Trading Direction Gold: If gold breaks above $2,532, consider long positions. If it falls below $2,470, short positions might be favorable. USD: With bearish pressure, look for opportunities to short the USD against stronger currencies.