Fundamentals for the Day
USD
6.00 pm Core Retail Sales m/m
Retail Sales m/m
7.30 pm Prelim UoM Consumer Sentiment
Prelim UoM Inflation Expectations
Yesterday,
Gold started moving downside and by morning Asia Session – it touched 4310$ in XAUUSD – still Gold has a good downside which will continue towards 4235$ in XAUUSD based on the timeline we have already given – that till 19th Aug Gold will remain Downside only-with zig-zag with High volume for which we follow give trading zone
As Per Trump last attack on ship moving through Hormuz and no sign of retaliation from Iran shows Control over Hormuz shifted from IRAN and it will remain 4-5 days till the time IRAN does not respond to this action. which indicates Dollar steady and strength downside for gold as well as Crude premium also has reduced which controls inflation too – effect: Downside for GOLD temporary.
Gold is trading very good with a Jobbing with high volume which will provide in what’s app broadcast only –
XAUUSD Has touched the target today – as we mentioned sell from 4440$ for target 4310$ with SL 4460$ which has achieved the target.
XAUUSD
Range: 4352$ – 4235$
Our Preference: Sell Gold @ 4352$ for target 4297$ & 4240$ with SL 4372$+ only if sustain
Alternative Scenario: Buy Gold @ 4240$ with SL 4220$ target 4300$ & 4342$ only
Trading Zone
4297$ Buy for session with SL 4287$ target 4340$
for a Positional Buy will update on or around 19th Aug which will apply for Physical Buy as well as one month holding Buy position with High return.
XAGUSD (Silver)
Range: 64.90$ – 60.80$
Our Preference: Sell Silver @ 64.70$ for target 63.2$ with SL 65.20$ only
Alternative Scenario: Buy Silver @ 61$ for target 65$ with SL 60.20$ only
Trading Zone
63$ Buy for target 64$ with SL 62.70$
