Looking Quiet.

Opening this week on Monday we don't have anything I see having much consequence however Tuesday does indeed have one event I believe might create a little movement in the precious metal and the USD/JPY markets. This event is the US's CB Consumer Confidence, showing a slight dip from last month and will be worth watching.

Wednesday has the US's Core Durable Goods Order, this is showing a dip which I believe shall create some movement, a 0.4% decline from last month is expected. But before this we have the BOE's governor Mr Carney speaking, doubling any effect on Gold but shall be worth paying attention too just in case.

Thursday is looking to hold the most important piece of data this week which could effect the direction of the precious metal and USD/JPY market. This is the US's Final GDP q/q, expecting to hold firm on previous quarter at 2.2%. So if this does come in on forecast it will help rally the Dollar further, and thus might shift Gold even further down before any chance of a rebound, so gotta be paying attention on Thursday!

Friday and finishing the week there isn't anything huge but a couple of small events that may be worth watching just in case any unpredictable outcomes pop up. The events we shall be looking into are the US's: Personal Spending m/m, Core PCE Price Index m/m and the Revised UoM Consumer Sentiment. We aren't seeing much fluctuations in forecasts and thus that is why I suspect data analysis not holding much power over Golds movement this week.

So what is interesting looking at the breakout which was seen at the end of last week, Gold stopping and rebounding off the $1260 mark. What is good for the precious metal is RSI and BB are holding neither in the Upper or Lower Bands and thus room this week is clearly there for growth. However the main issue is the gains we saw in the US Dollar last week and therefore it does question whether Gold has much of a chance of a further rebound, but we shall see!

The Naive Trader.

Forex Factory, 2018.

TradingView, 2018.