RBA Interest Rate Decision, Australia

WHAT IT INFLUENCES: AUD and its subsequent pairs

WHAT'S HAPPENING: The Reserve Bank of Australia announces the RBA Interest Rate Decision. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates, then it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the current interest rate, or cuts the interest rate, then it is seen as negative, or bearish.

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Comment on Gold on October 4, 2021

 Closing last week's session, precious metal Gold ended with a bullish candle from 1721 to 1765. After 3 weeks of decline, the last week, according to me, Gold has shown a slight recovery signal.  and the possibility that in this week's trading session, precious metal #Gold will continue to be promoted and go up to higher milestones.

Switching to the daily chart time frame, we can see that the previous 2 trading sessions ended with a bullish candle, but in the last session of the week, precious metal Gold is showing signs of slowing down around.  zone 1765. So in my personal opinion at the beginning of today's trading session, the possibility of Gold will correct down slightly after 2 days of gaining before it can continue to increase like the weekly chart.

 👉 We can set up a sell down around the current price, stop if the price goes through 1770, and safe target around 1755 and expectation 1745.

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Let's have an look on XAUUSD

 XAUUSD M15

The rise occurred last night after the market price tested the support level of 1725.00 and failed to break and then passed a confirmation reversal on the M15 timeframe.  An increase of $ 40 occurred from the lowest price to yesterday’s highest price.

 So through today’s chart what is the potential that could happen at the current price at the moment?  I see from the trend of the market price which is dominated by the uptrend as well as there was a clear set up early this morning after the market-tested on the trendline area as well as at the price of 1752.00

 In addition, the market expects to continue the rise guided to the test level at the nearest resistance area between 1755.00 - 1752.00 and 1746.00

 This is one of the closest support areas that can be retraced because in the current situation the price has entered the horizontal zone.

 If choosing the current market to trade I advise to put confluence on every trade made so that you can see more clearly what will happen after that.

 From the overall picture the market can rise again up and there is a breakout at yesterday’s highest price in the event of a breakout at that level.

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Fundamental Overview on XAUUSD by Money Life Research

 #XAUUSD M15

The rise occurred last night after the market price tested the support level of 1725.00 and failed to break and then passed a confirmation reversal on the M15 timeframe. An increase of $ 40 occurred from the lowest price to yesterday’s highest price. So through today’s chart what is the potential that could happen at the current price at the moment? I see from the trend of the market price which is dominated by the uptrend as well as there was a clear set up early this morning after the market-tested on the trendline area as well as at the price of 1752.00 In addition, the market expects to continue the rise guided to the test level at the nearest resistance area between 1755.00 - 1752.00 and 1746.00

This is one of the closest support areas that can be retraced because in the current situation the price has entered the horizontal zone. If choosing the current market to trade I advise putting confluence on every trade made so that you can see more clearly what will happen after that. From the overall picture, the market can rise again up and there is a breakout at yesterday’s highest price in the event of a breakout at that level. Follow us to always know the science of trading as well as the latest updates on technical analysis & fundamental analysis www.moneylifeconsulting.com