Comment on Gold on March 8

 📕 Comment on Gold on March 8, 2021:

 ‼ ️ At the end of last trading week, world gold price had a week of decreasing from 1759 to 1686 (73 $).  This is also the 3rd consecutive week World Gold has a decline.  With quite strong downside pressure on weekly and monthly timeframes, we have clearly seen the downward pressure of the gold precious metal in the coming time, but in the short term in my opinion.  Last week, gold precious metal is still ending at strong support zone around 1680-1685.  And in my opinion, it is likely that in the first sessions of the week, this precious metal will have an upturn momentum after a week of declines.

 - Moving to daily chart timeframe we can see that last Friday the world gold price closed with a bullish candle after a series of declines in Gold.  As stated at the end of the week, in order for this precious metal to increase further, today, World Gold will have to end the day with a bullish candle above 1713-1715 to be able to increase in the days.  next.

 - Returning to the Asian session today, we will prioritize buying the gold precious metal around the 1697-1700 zone and the safe profit-taking target will be around 1715.

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Any light at the end of the tunnel for US employment?

Any light at the end of the tunnel for US employment?

9 million fewer Americans are currently employed compared to February of last year.

Will the latest Non-Farmers Payroll (NFP) release provide the US’s labor market and economy with a more optimistic outlook?

Check out the NFP announcement today at 1:30 pm GMT & trade, trade, trade with the #BestSignals provided by the market leader in the #ProfessionalSignalServices of The MoneyLife Research.

Register on our website and get the best signals to make the best returns on your investment.

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Check out the news of the past 24 hours

 🌈🌈Good morning!  Have a nice day!

 + Check out the news of the past 24 hours:

 1️⃣ Fed Chairman Powell reiterated his commitment to maintain easing policies, stressing that job creation is a top priority.

 Fed Chairman Powell said on Thursday that with the progress of vaccinations and the government's financial support, “we have every reason to believe that further progress will be made in achieving the entry.  Fed spending on full employment and inflation is consistently at 2%.  However, even if this situation is reached, it will take a long time.  I want to be clear about this.  Even if the situation improves, I hope we will be patient.  "

 - It can take a long time to restore production and fill the lost jobs and it may be difficult to reach maximum jobs this year.

 - The Fed has no plans to change the QE, continue to patiently wait for inflation to rise according to the expected target.

 - The Fed is not ready to change the current rate hike plan, it may take more time to consider raising interest rates.

 - The US bond yields continue to increase strongly and continue to be the key drive to support the expectation that the USD will rebound when the economy is more prosperous.

 - However, the US stock market reversed and declined due to concerns that FED would consider intervening in policy when bond yields are increasing.

 2️⃣ Notable economic facts and data today

 - At tonight, the February season-adjusted US non-farm employment data will be released, expected to increase by 182,000, 49,000 higher than previous values.  Be wary of below-expected non-farm risks.  The market expects that the US unemployment rate in February will hit a record 6.3%, equal to the previous value.

 On Saturday morning, the 2021 FOMC voting committee, Bostic will deliver a speech on "macroeconomic policy" at an online event.  You may have noticed his statement about the soaring US bond yields.

 - On Friday, Bank of Japan Governor Kuroda Haruhiko will make a speech after Kuroda Haruhiko said that he has no intention of raising Japan's 10-year government bond yield target from the 0.

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Technical Overview on Gold

 USD: The FOMC's Brainard should give risk assets some breathing space

FX markets have stabilized overnight, assisted in part by comments from Lael Brainard of the Federal Open Market Committee, who reported that she has been paying close attention to recent moves in US Treasury yields. Since UST uncertainty is currently the biggest risk to risk assets and cyclical FX, these remarks should give higher beta FX some breathing space. In the United States, the priority is on February ISM Facilities. We expect a minor correction from the January reading, which should help risk assets stay stable.

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Monthly Overview on Indices

 Monthly change: SPX500 +5%

After reaching the new historical level of 3,960, the SPX500 index has started to decline. Stocks have fallen sharply, and the decline should not come as a surprise to anyone. Valuations in many equities have been at historically high levels.

The index's rally has been driven by the idea that low-interest rates could expand PE multiples. However, yield rates have risen sharply in recent weeks. These higher rates are making the stock market more expensive when compared to bond yields. If stocks need to reprice, it could result in a rather steep equity market sell-off, perhaps more than 20%.

It seems as if technology stocks prices have burned out over the past 12 months and maybe hit the hardest in a repricing environment triggered by rising yield rates. A market drawdown would undoubtedly be welcome after the euphoric run it has had over the last year. The rising-rate environment and overvalued stock market seem to have all come together, creating a perfect situation for this.

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GBPUSD Overview

GBPUSD overview, this pair will continue down in the first half of March.  If you want to buy in, you should wait for the price to go down to the lower green demand zone, then you should buy in in the long term, so the current should not buy and the point to start buying will be the starting price.  head from 1.3770 or less.

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Gold technical analysis overview for March 2021 with team Money Life Research

 Gold technical analysis overview for March 2021 with team MoneyLife 💷 Research 📈

On the monthly chart, after ending February with a strong bearish candle, it shows that the selling pressure is still dominating with the information coming from the USD strongly increasing in the context of US bond yields.  go to high place.  The US economic outlook is brightly assessed.  In general, fundamental and technical analysis is in favor of the next decline in gold, here I have drawn a long-term downside target for gold to be 1500-1600.  On the H4 chart it can be seen that the price at the beginning of the week is recovering and I have drawn fibo to determine where the recovery span can be reached, here in my opinion, the price can recover to the 38.2-50 fibo zone.  is resistance in the past.  To be safe, we can wait for the price to rise to this zone and close the candle to give a bearish signal, then entering the order will be low risk.  The specific signal I will update with proper levels.

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