GOLD ANALYSIS WEEK 8/8-12/8/2022 - GROWTH signal
After a mild end to July, the US dollar, as measured by the index DXY, rallied in the first week of August, gaining about 0.7% to 106.55, with most of the gains coming Friday the day before the weekend after America. The working data surprised all sides of the activity, eliminating any hope of a Fed pivot later this year.
Facing the foreground, US employers added 528,000 workers in July, more than double estimates and the fastest job growth rate since February, signaling that hiring remains strong and worries that the economic narrative might be overblown.
With the labor market still blowing up all cylinders, no signs of layoffs on the surface, and wage pressures not fitting, the U.S. central bank is likely to stay on course, increasing spending. borrowing costs aggressively in the coming months to bring the temperature down. This status must be fixed to your left the US Treasuries as investors price in the path to more upside and higher interest rates for a longer time.
Trading recommendation:
BUY AUSTRALIA around the price range 1770 - 1766
Stop Loss: 1755
Take Profit 1: 1780
Take Profit 2: 1785
Take Profit 3: 1790
SELL US Dollars around the price range 1793 - 1796
Stop Loss: 1803
Take Profit 1: 1780
Take Profit 2: 1775
Take Profit 3: 1765
Note: Please fill in TP and SL specifically in the transaction, and it will make you safer
Facing the foreground, US employers added 528,000 workers in July, more than double estimates and the fastest job growth rate since February, signaling that hiring remains strong and worries that the economic narrative might be overblown.
With the labor market still blowing up all cylinders, no signs of layoffs on the surface, and wage pressures not fitting, the U.S. central bank is likely to stay on course, increasing spending. borrowing costs aggressively in the coming months to bring the temperature down. This status must be fixed to your left the US Treasuries as investors price in the path to more upside and higher interest rates for a longer time.
Trading recommendation:
BUY AUSTRALIA around the price range 1770 - 1766
Stop Loss: 1755
Take Profit 1: 1780
Take Profit 2: 1785
Take Profit 3: 1790
SELL US Dollars around the price range 1793 - 1796
Stop Loss: 1803
Take Profit 1: 1780
Take Profit 2: 1775
Take Profit 3: 1765
Note: Please fill in TP and SL specifically in the transaction, and it will make you safer
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