According to the performance on the daily chart below, the gold price is still moving inside a bearish channel- Forex Forecast
The US dollar was not affected this week by the credit rating downgrade of the United States. Rating agencies such as Fitch and its peers, Standard & Poor's, and Moody's Investors Service, rate all types of corporate and government debt, from local government bonds to debt issued by large banks.
processor ADP released a report on Wednesday showing that US private sector employment jumped by much more than expected in the month of July. ADP said private sector employment jumped by 324,000 jobs in July after rising by a downwardly revised 455,000 jobs in June. Economists had expected private sector employment to increase by 189,000 jobs compared to the increase of 497,000 jobs originally reported for the previous month.
On Friday, the US Labor Department is due to release its closely watched report on employment for the month of July. Employment is currently expected to increase by 200,000 jobs in July after rising by 209,000 jobs in June, while the unemployment rate is expected to remain at 3.6 percent.
From the last level, technical indicators will give strong oversold signals, and from it you can think of buying gold again withoutOn the other hand, and for the same time period, the bulls will not regain control of the trend without returning to the vicinity of the $1970 and $1985 resistance levels, respectively.
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