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The gold price outlook remains positive in the short and medium term. Gold price has rested above support 1847 and support 1830 is the next support in case support breaks 1847 down, but if the price rises, resistance 1858 is a short-term target or High. The latest that the price has made And the next resistance at the price level 1880 is a medium-term resistance in case the price can make a new high above the recent high.
However, investors are watching the wording of Powell’s statement. president of the US Federal Reserve on Tuesday, March 7, 2023 at 10:00 p.m. Thailand time to arrive. This will directly affect the direction of gold prices.
The GBPJPY trend is bullish after a breakout of 161.600, a key level on the week time frame, is expected to rise to test the 166.000 resistance in the medium term. Short, the price is sideways in the H4 timeframe and swings between support 163.000 and resistance 163.780, which is support and resistance in the short term. The price is still moving within the above price range.
Resistance 166.000 is the next resistance in the medium term where the price is expected to test. If the price rises to test the short-term resistance at 163.780 and can stand on this price line. On the other hand, support 161.600 will be the next support in the medium term where the price is expected to test and retrace. If the price has dropped to test the short-term support at 163.000 and cannot stand on that support.
The GBPUSD trend is sideways in the daytime frame. The price is currently swinging between support 1.19147 and resistance 1.21460 which is a short-term support and resistance.
The price continues to move within this range. Resistance 1.22713 is the next resistance in the medium term where the price is expected to test. If the price rises to test the short-term resistance at 1.21460, then it can stand on this level. On the other hand, 1.17370 support will be the next medium-term support where the price is expected to test and retrace there. If the price has dropped to test the short-term support at 1.19147 and cannot stand on it.
However, investors are watching the wording of Powell’s statement. president of the US Federal Reserve on Tuesday, March 7, 2023 at 10:00 p.m. Thailand time to arrive. This will have a direct impact on the direction of the GBPUSD.
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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