Intraday Analysis - ( 16 FEB 2023 )
Strong retail sales did not hold any weight yesterday which was not expected. Overall dollar has made new intraday highs and is in a retest for better buy side liquidity for further upside to targeted region of 105.5. Gold is in a retest as seen to better sell zones as marked out based off FM key levels. There will be PPI tonight and if it comes out as per forecast, we would see another leg down on gold. Overall my bias for gold stands with it being bearish and dollar being dominant.
HRHR SELLS AT 1850-1852
MRMR SELLS AT 1836
SAFEST SELLS BELOW 1830
TARGET LOOKING AT 1820 POSSIBLY EVEN 1810s region
Strong retail sales did not hold any weight yesterday which was not expected. Overall dollar has made new intraday highs and is in a retest for better buy side liquidity for further upside to targeted region of 105.5. Gold is in a retest as seen to better sell zones as marked out based off FM key levels. There will be PPI tonight and if it comes out as per forecast, we would see another leg down on gold. Overall my bias for gold stands with it being bearish and dollar being dominant.
HRHR SELLS AT 1850-1852
MRMR SELLS AT 1836
SAFEST SELLS BELOW 1830
TARGET LOOKING AT 1820 POSSIBLY EVEN 1810s region