Analisa Harian - Weltrade MY

Forecast for XAUUSD 7 SEPT 2022 for Fundamental Analysis and Technical Analysis

Fundamental Factors

1) Gold closed with a loss on Tuesday as bond yields surged and the US dollar traded at a 20-year high

2) The price of the metal has dropped more than 5% over the past month as the metal proves a weak hedge against inflation
as the Federal Reserve and other central banks aggresively raise interest rates to slow the price increases.

3) Focus this week will be on the European Central Bank meeting on Thursday, where it is expected to deliver a 75-basis-point interest rate hike.
Fed fund futures are now pricing in a 73% chance of a 75-basis-point rate hike by the U.S. Federal Reserve at its Sept.

Fundamental Range is between 1693- 1703

XAUUSD:The trend is Bearish

https://youtu.be/fCRC2-VrJ-0

Technical Analysis

Check on the daily chart

1) Resistance area : 1,708.15 ,1,717.90 , 1,729.25

2) Support area : 1,694.95 ,1,688.70 , 1,680.80

Seek for sell or buy opportunity , entry at lower timeframe to enter for self confirmation or based on your own technical analysis understanding.

XAUUSD :Trend is Bearish

For further information, contact me ,Gurmit at +60142584067,I will guide anyone that would like to register with Weltrade. Can register at the below link. Thank you.

https://my.weltrade.com/?r1=ipartner&r2=49989

Disclaimer : This analysis is based on Investing.com and Forexfactory.com. You may follow based on your own discreetion.

Can join at our telegram group at https://t.me/weltrademalaysiaofficial

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