XAUUSD - Under pressure even as ISM Services PMI drops to 52.7

The gold market is trying to hold critical support levels but is struggling even as activity in the U.S. service sector continues to slow, according to the latest data from the Institute for Supply Management (ISM).

Thursday, the ISM said its Services Purchasing Managers Index fell to a reading of 52.7% last month, down from June's reading of 53.9%. The data also missed consensus estimates as economists were expecting a small drop to 53.1%.

הערה:

Thursday, the ISM said its Services Purchasing Managers Index fell to a reading of 52.7% last month, down from June's reading of 53.9%. The data also missed consensus estimates as economists were expecting a small drop to 53.1%.

הערה:

🐾 SELL XAUUSD zone 1952 - 1954

⚠️ Stop Loss : 1960

💲 Take Profit 1: 1946
💲 Take Profit 2: 1940
💲 Take Profit 3: 1930

🐾 BUY XAUUSD zone 1915 - 1917

⚠️ Stop Loss : 1910

💲 Take Profit 1: 1925
💲 Take Profit 2: 1930
💲 Take Profit 3: 1935

הערה:

Friday's surprise payroll data miss showed 187,000 jobs created versus 200,000 expected, which helped Gold find its footing and recover from its recent slump. Will a single miss be enough to stave off the Fed's aggressive stance on rate hikes?

הערה:

🐾 BUY XAUUSD zone 1936 - 1938

⚠️ Stop Loss : 1932

💲 Take Profit 1: 1942
💲 Take Profit 2: 1947
💲 Take Profit 3: 1952

עסקה פעילה:

⭐️Plan to BUY Successfully Runnings + 30pips 💲💲💲

עסקה פעילה:

Close 1/2 + 40pips 💲💲💲 1/2 Move SL to Entry ⭐️

הערה:

The IGCS gauge shows that about 76% of retail traders are net-long gold. Since the vast majority are biased to the upside, this continues to suggest that prices may keep falling down the road.