{"id":171559,"date":"2020-06-03T07:45:01","date_gmt":"2020-06-03T11:45:01","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=171559"},"modified":"2020-06-03T07:31:17","modified_gmt":"2020-06-03T11:31:17","slug":"xauusd-analysis-improving-manufacturing-data-bearish-for-xauusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/06\/xauusd-analysis-improving-manufacturing-data-bearish-for-xauusd\/","title":{"rendered":"XAUUSD Analysis: Improving manufacturing data bearish for XAUUSD"},"content":{"rendered":"
June 3, 2020<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/strong><\/p>\n

Improving manufacturing data bearish for XAUUSD<\/strong><\/p>\n

Global downturn is easing as governments began to ease the tough coronavirus-led lockdown measures. While factory activity still contracted globally in May, contraction slowed as evidenced by purchasing managers indexes for Europe, US and China. Thus, Markit\u2019s Manufacturing Purchasing Managers\u2019 Index (PMI) for the euro zone rose to 39.4 in May from 33.4 in previous month. The US Institute for Supply Management report showed its manufacturing index rose to 43.1 in May from an 11-year low of 41.5 in April. China’s official manufacturing purchasing managers index and the private Caixin manufacturing purchasing managers index both showed factory activity still expanding in May. And China\u2019s services sector returned to growth last month for the first time since January: the Caixin\/Markit services Purchasing Managers\u2019 Index (PMI) rose to 55.0 in May from 44.4 in April, hitting the highest level since late 2010. Readings above 50 indicate growth, below 50 indicate contraction. Improving economic data are bearish for gold prices.<\/p>\n\n\n\n\n\n\n\n\n\n\n
Indicator<\/th>\nVALUE<\/th>\nSignal<\/th>\n<\/tr>\n<\/thead>\n
RSI<\/td>\n<\/td>\nSell<\/td>\n<\/tr>\n
MACD<\/td>\n<\/td>\nSell<\/td>\n<\/tr>\n
Donchian Channel<\/td>\n<\/td>\nSell<\/td>\n<\/tr>\n
MA(200)<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Fractals<\/td>\n<\/td>\nSell<\/td>\n<\/tr>\n
Parabolic SAR<\/td>\n<\/td>\nSell<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Summary of technical analysis<\/h2>\n\n\n\n\n\n
Order<\/b><\/td>\nSell<\/td>\n<\/tr>\n
Buy stop<\/b><\/td>\nBelow 1693.53<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nAbove 1748.74<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Improving manufacturing data bearish for XAUUSD Global downturn is easing as governments began to ease the tough coronavirus-led lockdown measures. While factory activity still contracted globally in May, contraction slowed as evidenced by purchasing managers indexes for Europe, US and China. Thus, Markit\u2019s Manufacturing Purchasing Managers\u2019 Index (PMI) for the euro zone rose […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-171559","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=171559"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171559\/revisions"}],"predecessor-version":[{"id":171564,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171559\/revisions\/171564"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=171559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=171559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=171559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}