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Gold Falls on Good NFP Report. Webinar Next Week: Analysing FX Pairs.

   

Hey Valutraders!

Did you see what the US Non-Farm Payroll Report did to Gold?

Subscribe to Free Valutrades Signals at https://www.valutrades.com/en/trading-signals

I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at the Hang Seng Index (HK50), EURUSD, Natural Gas (NatGas), USDJPY, and Gold (XAUUSD).

New traders don’t always remember that we trade in pairs so when the USD gets stronger, the price of Gold falls.Screenshot 2022-07-11 at 12.09.50

This is what happened last week with a better-than-expected US Non-Farm Payroll report.Screenshot 2022-07-11 at 12.10.07

If you want to know more about analysing pairs…currency pairs, gold, indices, just register for our webinar next week.Screenshot 2022-07-11 at 12.10.16

Getting back to Gold, we looked at the possible fall of XAUUSD last week and it happened with price action at this level of support at about $1740 with a key level below at about $1680.Screenshot 2022-07-11 at 12.10.25

JPY just keeps getting weaker with USDJPY reaching 137 so we are not ready for the “Big Short” just yet.Screenshot 2022-07-11 at 12.10.31

Natural Gas opened this morning with a gap to the upside based on the threat of Russian gas supply cuts.

The Nordstream pipeline has been closed for 10 days for routine maintenance but watch the news for more promises or threats and let’s see if price action fills that gap.Screenshot 2022-07-11 at 12.10.39

This threat is affecting the entire European economy with EUR falling against every other pair and many countries are preparing for a full gas supply cut, just in case.Screenshot 2022-07-11 at 12.10.54

Indices are over the world are falling but the most dramatic are in China and Hong Kong with Australia not far behind.

We will look at indices from the technical side tomorrow but just remember, we are not free of the COVID threat just yet.Screenshot 2022-07-11 at 12.11.03

And finally, don’t forget to check your favourite economic calendar as we have Interest Rate decisions from New Zealand and Canada this week.

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.

Also, subscribe to our YouTube channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now.  Happy trading with Valutrades and we will see you next time.

CFDs and FX are leveraged products and your capital may be at risk.11 July 2022 Fundamentals EN TN

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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