Pay attention to ADP and FOMC minutes of the day
On this trading day, Wednesday January 8, investors will need to focus on US ADP jobs data and Federal Reserve meeting minutes, which are expected to causing major fluctuations in the market.
On Wednesday, US ADP employment change data for December will be released. This data is called "small non-farm" and is expected to create a major trend in the market.
Surveys show that US ADP employment is expected to increase by 140,000 in December. Previously, US ADP employment increased by 146,000 in November.
On the same day, one of the Federal Reserve's most influential senior officials, Governor Waller, will give a speech on the economic outlook at the OECD meeting.
On Thursday, the US Federal Open Market Committee (FOMC) will release the minutes of its December monetary policy meeting. The minutes could provide more information about the future policy roadmap, especially whether the Fed will actually become hawkish or not.
At its December meeting, the Fed cut interest rates by 25 basis points as expected, and officials forecast just two rate cuts in 2025. Fed Chairman Jerome Powell said further adjustments will be made. depends on inflation developments.
The accumulation state on the daily chart of gold prices is still continuing. After yesterday's recovery, the upward momentum is limited by the 0.50% Fibonacci retracement level. Attention readers in the previous issue there.
Up to now, the price activity position is becoming increasingly narrower, gradually entering the corner of the accumulation price triangle. This shows hesitant market sentiment, and predicts an impending spike in amplitude.
Regarding the overall picture, the gold price trend is still neutral, sticking around EMA21 and the Fibonacci level of 0.618%. With upside limited by 2,664 – 2,693USD and downside limited by 2,604 – 2,600 – 2,592USD.
Along with that, the Relative Strength Index is still sticking around 50, also showing the market's hesitant psychology.
Before the fundamental impact creates price structural mutations, gold still has a neutral outlook, with a cumulative sideways trend, and notable levels will be listed as follows.
Support: 2,634 – 2,604 – 2,600USD
Resistance: 2,664 – 2,693USD
SELL XAUUSD PRICE 2677 - 2675⚡️
↠↠ Stoploss 2661
→Take Profit 1 2670
↨
→Take Profit 2 2665
BUY XAUUSD PRICE 2617 - 2619⚡️
↠↠ Stoploss 2513
→Take Profit 1 2624
↨
→Take Profit 2 2629
On Wednesday, US ADP employment change data for December will be released. This data is called "small non-farm" and is expected to create a major trend in the market.
Surveys show that US ADP employment is expected to increase by 140,000 in December. Previously, US ADP employment increased by 146,000 in November.
On the same day, one of the Federal Reserve's most influential senior officials, Governor Waller, will give a speech on the economic outlook at the OECD meeting.
On Thursday, the US Federal Open Market Committee (FOMC) will release the minutes of its December monetary policy meeting. The minutes could provide more information about the future policy roadmap, especially whether the Fed will actually become hawkish or not.
At its December meeting, the Fed cut interest rates by 25 basis points as expected, and officials forecast just two rate cuts in 2025. Fed Chairman Jerome Powell said further adjustments will be made. depends on inflation developments.
The accumulation state on the daily chart of gold prices is still continuing. After yesterday's recovery, the upward momentum is limited by the 0.50% Fibonacci retracement level. Attention readers in the previous issue there.
Up to now, the price activity position is becoming increasingly narrower, gradually entering the corner of the accumulation price triangle. This shows hesitant market sentiment, and predicts an impending spike in amplitude.
Regarding the overall picture, the gold price trend is still neutral, sticking around EMA21 and the Fibonacci level of 0.618%. With upside limited by 2,664 – 2,693USD and downside limited by 2,604 – 2,600 – 2,592USD.
Along with that, the Relative Strength Index is still sticking around 50, also showing the market's hesitant psychology.
Before the fundamental impact creates price structural mutations, gold still has a neutral outlook, with a cumulative sideways trend, and notable levels will be listed as follows.
Support: 2,634 – 2,604 – 2,600USD
Resistance: 2,664 – 2,693USD
SELL XAUUSD PRICE 2677 - 2675⚡️
↠↠ Stoploss 2661
→Take Profit 1 2670
↨
→Take Profit 2 2665
BUY XAUUSD PRICE 2617 - 2619⚡️
↠↠ Stoploss 2513
→Take Profit 1 2624
↨
→Take Profit 2 2629
Note
🔴India's gold imports plummeted by $5 billion in November, the largest decreaseNote
Notably, contrary to inaccurate information from the Washington Post about the easing of sanctions, sanctions are actually having a positive impact on USD strength.Note
Note
ECB economic bulletin: Based on market expectations about future interest rate trends, loose financial conditions will also boost domestic demand.
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.