GOLD → How will the news affect the price?

XAUUSD is forming a strong bullish trend, but there are some preconditions on the chart, which in tandem with the news can form an unexpected scenario.

Today is the last strong news of the year. Namely, at 13:30 GMT Initial Jobless Claims will be published. Overall, analysts are expecting 210K relative to the previous 205K. This is bad data. But a big role is played by the actual data relative to the expected data.

• If the data will be higher than expected 210K, the dollar may break the local support and continue its decline, which will strengthen the gold.
  
• If the data will be lower than expected 210K, then gold will catch a bearish wave on the back of dollar strength.
  

Technically, we have a bullish trend, with strong support and liquidity area forming in the 2075 - 2069 area.

• On positive news for XAU the price may test this area and after a false breakdown head upwards.
  
• But negative news for XAU will break this area and could send the gold price to 2050 - 2047.
  

Support levels: 2075, 2069.3, rising line
Resistance levels: 2080, 2088, 2100.

Technically, gold is ready to continue to grow and this will continue in the medium and long term, but locally, the news can unpredictably affect the price

GC1! MGC1! DXY

Regards R. Linda!

Transaction en cours:

Fundamentally, gold is gaining further support.
The news for the dollar is negative and may weaken the currency, which will favor the gold price.

US - Initial Jobless Claims = 218k (expected 210k / earlier 205k)

Commentaire:

Strange development of the situation after the publication of negative news for the dollar
the market reacts opposite to the logical outcome.

Most likely, the market maker is trying to test the liquidity area, located at the bottom, before further growth of the price

Two scenarios are possible.
If the market maker has collected the position he needs, he will try to bring the price to the buying zone, which can be formed above 2069-2075. If the price fixes above this area, the growth phase will begin

BUT! False breakdown of 2069-2075 is possible, if the price fixes below this area, the fall will continue to the key area of liquidity 2047 before further growth to 2100.