Discuss N1CM.com (Number One Capital Markets)

[xN1CMx]

Gold (XAUUSD) Technical Analysis, July 3 2023

As a result of the rise in the US 10-year interest rates and the dollar index, we see that the pressure on the ounce price of gold continues. After testing 1900 last week, there has been a recovery, but the general trend does not seem to change.

We think that the ISM manufacturing PMI data, which will be released today, will be important. Nearly every data from the US last week came in strong, alleviating recession concerns. If today's data is strong, the pressure may increase.

Technically, in the short term, the direction will be down as long as it trades below 1930 and in the broad picture, below 1970, and the uptrends may continue to provide selling opportunities.

If it drops below 1910 again, we can see pressure towards 1895.

Register on n1cm.com for a smooth trading experience, with up to 1:500 leverage and bonus promotions.

 

[xN1CMx]

$500 Deposit Bonus

Trade S&P 500, Nasdaq, Gold, EURUSD and so many more with spreads starting from 0.4, little-to-no commissions! Enjoy a smoothing trading experience with N1CM's MetaTrader 4 and MetaTrader 5 platforms.

- For a deposit of $500 and over, new/existing clients, will receive $500 as bonus funds supporting their margin level.
- The promotion ends on July 12th, 2023.
- Contact our live support or email us to learn more about this promotion, eligibility and conditions.

Don't miss out on this limited time opportunity and Register Now!

https://n1cm.com

 

[xN1CMx]

50% Deposit Bonus

Need that extra boost in your margin level? Support your drawdown with N1CM's 50% Deposit Bonus, available for a limited time only.

- For a deposit of up to $5,000, receive 50% of your deposit as bonus funds.
- The promotion ends on July 25th, 2023.
- Contact our live support or email us to learn more about terms & conditions, eligibility and conditions.

Don't miss out on this limited time opportunity and Register Now!


https://n1cm.com

 

[xN1CMx]

Gold (XAUUSD) Technical Analysis, July 21 2023

This week, we see that the rise in the US10Y and the dollar index has placed the ounce price of gold under pressure. Technically, the ounce price of gold has bounced back from 1985, its resistance level and to slump down to around 1960.

At this stage, the Fed meeting next week will be critical for the safe haven asset.

In the meantime, the pressure may continue as long as it trades below 1985. If 1960 is broken below, we can see pressure towards 1950.

1985 must be crossed over for a bullish momentum to take off.

Trade XAUUSD at N1CM with spreads starting from 2.8 on your STD account with no commission. Switch over to an ECN account for even tighter spreads with $4 commission per lot.

Take advantage of our daily technical analysis when you register for an account, gain free to AutoChartist's daily trading signals, with bonus promotions to help support your drawdown.

https://n1cm.com