Fundamentals for the Day
US
06.00 pm Core CPI m/m
Core CPI y/y
CPI m/m
CPI y/y
08.00 pm Crude Oil inventories
10.31 pm 10-Y Bond Auction
11.30 pm Federal Budget Balance
Yesterday,
Gold (XAUUSD) has consolidated, still non of the Asia/ Europe & US Session has liquidate their long position nor exit since last 3 days + Open Interest of XAUUSD = Gold & Silver = XAGUSD has maintain their Buy position only. We can say this are the long term Buy position has been created. But we will wait till or after 19th July for a confirmation – till the time we will follow Levels below as we mention only
Our Preference: Gold sell @ 4440$ around with SL 4460$+ for target 4360$ & 4310$ (entry can be flexible by 4331$ sell too as per around)
Alternative Scenario: Buy Gold only above 4465$+ for target 4605$ & extended target 4773$ with SL 4440$ below only if sustain
Trading Zone
4360$ Buy for session with SL 4352$
4310$ Buy for the Day with SL 20$ and target 4360$
4410$ Sell for pure momentum with SL 4421$ target 4385$ (Morning Jobbing)
