GOLD Thursday Forecast

Thursday Forecast

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1914, which will be followed by reaching resistance level 1941 – 1950.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1914, which will be followed by moving down to support level 1900 – 1893.

Chart Gold This/Next Week Forecast, Technical Analysis

previous day forecast

This/Next Week Forecast (January 4 – 8, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1906, which will be followed by reaching resistance level 1950.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1875, which will be followed by moving down to support level 1850 and if it keeps on moving down below that level, we may expect the market to reach support level 1819.

Chart Gold This/Next Week Forecast, Technical Analysis

previous week gold forecast chart
Chart Gold This/Next Week Forecast, Technical Analysis

The Most Important News Of This Week

Monday
EU – Manufacturing PMI
US – Manufacturing PMI
Tuesday
US – ISM Manufacturing PMI
Wednesday
EU – Markit Composite PMI
US – ADP Nonfarm Employment Change, Markit Composite PMI, FOMC Meeting Minutes
Oil – Crude Oil Inventories
Thursday
EU – Core CPI, ECB Monetary Policy Statement
US – Initial Jobless Claims, ISM Non-Manufacturing PMI
Gas – Natural Gas Storage
Friday
EU – Unemployment Rate
US – Nonfarm Payrolls

Fundamental Analysis

Conditions in currency and interest rates sectors showing fair price on the level 1750, but new covid wave and lockdown increase creating uptrend pressure.

Monthly Forecast, January 2021

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1857, which will be followed by reaching resistance level 1950.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1957, which will be followed by moving down to support level 1780 and if it keeps on moving down below that level, we may expect the market to reach support level 1680.

Chart Gold Forecast 2020, Long-term Outlook, Technical Analysis

previous forecast

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