Previous Week Update:

  • Before:

Gold Update

  • After:

Gold Update 1

Analysis was beautiful, followed the areas that it would go to perfectly, price action and market structure was just beautiful the past week. If you do not understand what happened, just e-mail me and I am happy to answer any questions.

Upcoming USD News:

  • Tuesday
    • ISM Manufacturing PMI
      • Previous: 57.8
      • Forecast: 56.4
  • Wednesday
    • ADP Non-Farm Employment Change
      • Previous: 158K
      • Forecast: 187K
    • Crude Oil Inventories
      • Previous: -7.2M
  • Thursday
    • Unemployment Claims
      • Previous: 244K
      • Forecast: 242K
    • ISM Non-Manufacturing PMI
      • Previous: 57.4
      • Forecast: 56.9
  • FRIDAY
    • Average Hourly Earnings m/m
      • Previous: 0.2%
      • Forecast: 0.3%
    • Non-Farm Employment Change
      • Previous: 222K
      • Forecast: 183K
    • Unemployment Rate
      • Previous: 4.4%
      • Forecast: 4.3%

Monthly: Monthly is closing on Monday, keep an eye out on it. Then see how weekly closes, as we may finally break the triangle and break out of the ranging market we were in.

Gold Monthly

Weekly: Another very strong bullish close (3 bullish soldiers), we should see another bullish candle at the end of the week, but it is NFP so keep an eye out. Momentums says we want to fill wicks.

Gold Weekly

Daily: A clear picture of what I was talking on the weekly timeframe. The analysis on the picture below explains all that is needed to know.

Gold Daily

H4: We hit resistance, returned to previous broken resistance and then we had a 3rd touch on trendline. Broke another resistance, retested and continued higher. Simple market structure. We are resistance, so I will not be surprised if we retrace and bounce up or simply ranging before all the fireworks with the USD news.

Gold H4

Gold Overall Analysis

  • USD has been weakening, Fed rates were kept the same and GDP growth disappointed. This week is NFP and Unemployment rates will give a very good idea of the future of the USD.
  • https://www.investing.com/analysis/busy-week-ahead-as-usd-eyes-multi-year-lows-200204360 Great idea of what happened and what might happen.
  • This week look at how price reacts to support and resistance. If it does range as I expect it to, then with NFP buy stops and sell stops can be used above or below the ranging area. We will have a beautiful week and will set us up perfectly for the week after.

Predicted Movement:

Gold Prediction

This may not happen, but with it being NFP week I expect a ranging market before explosions on Friday. However, watch market structure and see what happens. We will not go into a bear trend as long as that trendline is valid, everything shows that price will continue higher, but will need some fuel to propel that.