Mohammadmahdi Sanei / Profile

🔘 Key Technical Points for Gold on February 15, 2024:

🔸 Resistance: 2011, 2004, 1997
▪️ Current price: 1991
🔹 Support: 1990, 1985, 1978

✍🏻 Today's most important data includes US retail sales, Philly Fed, and jobless claims. The significance of these data is not as much as primary inflation data, but it seems that their expected release might pave the way for a slight correction in gold. Keep in mind that the US economy has appeared strong, so speeches by Fed members and their perspective on the current situation are important for the market. Strong release of this data can complete the technical pattern for gold and reveal lower levels. Intraday, the range of fluctuations for gold is currently between $1980 and $2000.

(🔸Resistance 🔹Support ▪️Current Price)

#GOLD

🔘 Key Technical Levels for Gold on February 14, 2024!

🔸 2020
🔸 2011
🔸 2004

▪️ 1992

🔹 1978
🔹 1962

✍🏻 Following the release of strong inflation data in the U.S. (especially in the services sector), we witnessed the dominance of the dollar. Later in the week, secondary retail sales and producer inflation data will also be released. Regarding gold, if we don't see any other significant events and an increase in risk sentiment, lower support levels also have the potential to be touched. However, these trades may not necessarily provide a good risk-to-reward ratio, and another point is not to sell within the current range of 1975. There is also a possibility of a pullback to resistance levels, especially the psychological level of $2000 (only for those who are stuck in gold buys).

(🔸 Resistance 🔹 Support ▪️ Current Price)

#GOLD

Economic Calendar, 13th February 2024

⭐️⭐️ U.K. Unemployment Rate 🇬🇧

This data measures the percentage of the total workforce who have been unemployed and actively seeking employment over the past three months. Given recent data, there is a possibility that the figure may be similar to the previous release.

⭐️⭐️ Switzerland Consumer Price Index (CPI) MoM 🇨🇭

For the CPI data, which examines changes in the prices of goods and services from the consumer's perspective, it is anticipated that it will be higher than the previous figure, potentially having a positive impact on the Swiss Franc.

⭐️⭐️⭐️ U.S. Consumer Price Index (CPI) MoM 🇺🇸

We also have significant CPI data for the U.S. today, and it is expected that the data will be better than the previous figure, potentially having a positive impact on the U.S. dollar.

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Economic Calendar, January 30, 2024

⭐️⭐️ Eurozone Gross Domestic Product (GDP) 🇪🇺

The most important data we have for the Euro is Gross Domestic Product, and based on the available data, there is a possibility that it will be released similar to the previous figure of 0.1.

⭐️⭐️⭐️ US Consumer Confidence 🇺🇸

This data measures the level of consumer confidence in economic activities, and considering the data from the past three months, which have been higher than the previous figure, it is expected that this time it will also be higher than the previous figure, having a positive impact on the US Dollar.

⭐️⭐️⭐️ US Job Openings 🇺🇸

Another important data for the US Dollar is job opportunities, and this data reports the number of job openings throughout the month, excluding the agricultural industry. There is a possibility that the data will be lower than the previous figure, having a negative impact on the US Dollar.

#News #Forex

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📅 **Economic Calendar - January 25, 2024**

⭐️⭐️⭐️ **Eurozone Interest Rate Decision**
- ECB Interest Rate Decision (Jan) 🇪🇺

The most important data for the Euro tomorrow is the interest rate decision. Given the existing data, there is a possibility that it will be released at the same rate as the previous figure, which is 4.50.

⭐️⭐️⭐️ **U.S. Gross Domestic Product (GDP)**
- GDP (QoQ) (Q4) 🇺🇸

For the U.S. dollar, we also have the Gross Domestic Product, which is the most important measure of economic activity and the primary indicator of overall economic health. There is a possibility that it will be lower than the previous figure, which could weaken the dollar.

⭐️⭐️⭐️ **U.S. Initial Jobless Claims**
- Initial Jobless Claims 🇺🇸

Another important data for the U.S. is the initial jobless claims. Given the statistics published in recent weeks, it is expected to be lower than the previous figure, which could be in favor of the dollar.

📌 Tomorrow, we also have a press conference by the European Central Bank (ECB), where clues about future monetary policies and the overall economic outlook, including inflation, will be discussed.

#News #Forex