Seemingly Horizontal.
So damn late but been pretty busy, so I will try and quickly have a look at what is happening this week in the Gold and USD/JPY market.
Nothing really happening to affect the precious metal until later in the week once again, but we are seeing the US Dollar holding in the 111 against the Yen. This as I have stated before is an important section as a result of the resistance the Dollar has.
Thursday we have the US Core CPI and CPI, but neither show much change from last month in the forecast so I doubt this will do much to markets to be honest. Friday isn't showing much though for events to influence the market so we really do have a quiet week.
I feel any serious movement we do witness shall be as a result of Trump popping over to the UK. This will of course be an interesting period and depending on implications of potential trade agreements or ideas we might see some further gains for the US Dollar but we never really know with Mr Trump!
After the rebound from the $1246 Gold is holding in that $1250 position on the short time frame. Furthermore the RSI is looking healthy so I am feeling surprisingly optimistic for the rest of the week but who really knows, we shall find out in due time!
Peace.
The Naive Trader.
Forex Factory, 2018.
IG.com, 2018.
TradingView, 2018.
Nothing really happening to affect the precious metal until later in the week once again, but we are seeing the US Dollar holding in the 111 against the Yen. This as I have stated before is an important section as a result of the resistance the Dollar has.
Thursday we have the US Core CPI and CPI, but neither show much change from last month in the forecast so I doubt this will do much to markets to be honest. Friday isn't showing much though for events to influence the market so we really do have a quiet week.
I feel any serious movement we do witness shall be as a result of Trump popping over to the UK. This will of course be an interesting period and depending on implications of potential trade agreements or ideas we might see some further gains for the US Dollar but we never really know with Mr Trump!
After the rebound from the $1246 Gold is holding in that $1250 position on the short time frame. Furthermore the RSI is looking healthy so I am feeling surprisingly optimistic for the rest of the week but who really knows, we shall find out in due time!
Peace.
The Naive Trader.
Forex Factory, 2018.
IG.com, 2018.
TradingView, 2018.
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