XAUUSD Daily Projection 04/10/22
XAUUSD
XAUUSD rocketed past 4 resistances overnight after CPI m/m of CHF fell 0.5% and ISM Manufacturing PMI of USD also fell by 1.9. This drastic increase managed to bring MA8 through the MA100 and almost confirmed the uptrend on Loco. Always remember that generally a drastic increase in a short time will be followed by a fairly deep correction as well. Therefore, GOLD most likely will make correction today with potential to support 1678.
[Possible to take]
BUY LIMIT 1679 SL 1669 TP 1694.
R3 1715.240
R2 1709.430
R3 1701.750
PV 1697.790
S1 1685.570
S2 1678.290
S3 1668.290
XAUUSD rocketed past 4 resistances overnight after CPI m/m of CHF fell 0.5% and ISM Manufacturing PMI of USD also fell by 1.9. This drastic increase managed to bring MA8 through the MA100 and almost confirmed the uptrend on Loco. Always remember that generally a drastic increase in a short time will be followed by a fairly deep correction as well. Therefore, GOLD most likely will make correction today with potential to support 1678.
[Possible to take]
BUY LIMIT 1679 SL 1669 TP 1694.
R3 1715.240
R2 1709.430
R3 1701.750
PV 1697.790
S1 1685.570
S2 1678.290
S3 1668.290
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