{"id":7355,"date":"2010-03-05T12:34:11","date_gmt":"2010-03-05T17:34:11","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7355"},"modified":"2010-03-05T12:34:11","modified_gmt":"2010-03-05T17:34:11","slug":"gold-rises-as-u-s-employment-improves","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/05\/gold-rises-as-u-s-employment-improves\/","title":{"rendered":"Gold Rises As U.S. Employment Improves"},"content":{"rendered":"

Gold is climbing back towards previous March highs after U.S. employment data printed stronger than analyst expectations.\u00a0 Although the Dollar initially climbed in reaction to the news, the risk trade has since posted a solid rally amid an improving global economic landscape.\u00a0 Uncertainty is cooling in the ECB and the impact from the possibility of a hung UK parliament has sunk in.\u00a0 Therefore, the focus is on today\u2019s improvement in the U.S. labor market and the impact this could have on U.S. consumption.\u00a0 Meanwhile, gold remains in a favorable position with only our two makeshift downtrend lines running through March highs.\u00a0 The more substantial uptrend lines are long gone, meaning gold\u2019s topside obstacles could be far and few between should global economic fundamentals continue to improve.\u00a0 The data wire will begin the week relatively quiet, though data flows will pick up with key China releases on Wednesday and Thursday.\u00a0 For the time being gold may continue to follow a positive correlation with the risk trade barring a negative psychological development in the EU or UK.<\/p>\n

Technically speaking, we\u2019ve formed two new makeshift downtrend lines running through 3\/3 levels to give investors an idea of present resistance.\u00a0 Gold is still well above downtrend lines running through 2\/19 and 1\/11 highs, meaning there aren\u2019t any foreseeable noteworthy downtrend lines in play right now.\u00a0 As for the downside, gold has multiple uptrend lines serving as technical cushions along with 3\/2 lows.\u00a0 Additionally, the highly psychological $1100\/oz level could serve as a reliable technical cushions should it be tested.
\nPresent Price: $1138.55\/oz<\/p>\n

Resistances: $1138.68\/oz, $1140.96\/oz, $1143.46\/oz, $1146.29\/ oz, $1149.24\/oz, $1151.54\/oz<\/p>\n

Supports: $1135.10\/oz, $1133.06\/oz, $1131.07\/oz, $1128.97\/oz, $1126.71\/oz, $1123.03\/oz<\/p>\n

Psychological: $1100\/oz, $1150\/oz, January Highs, March Lows<\/p>\n

\"\"<\/a><\/p>\n

(click to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold is climbing back towards previous March highs after U.S. employment data printed stronger than analyst expectations.\u00a0 Although the Dollar initially climbed in reaction to the news, the risk trade has since posted a solid rally amid an improving global economic landscape.\u00a0 Uncertainty is cooling in the ECB and the impact from the possibility of … <\/p>\n

Continue reading “Gold Rises As U.S. Employment Improves”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7355","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=7355"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7355\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}