Economic and fundamental developments 3-5-2024
The US dollar index settled near the levels of 105.20 points, while gold prices rose as it is trading at levels of $ 2308 an ounce.
Oil prices rose at the beginning of Friday's trading session, with Brent trading at $83, up 0.32%, while West Texas Intermediate rose to $79, up 0.21%.
Today, the eyes of the markets are on the release of US labor market data, which is expected to have strong repercussions on the movements of the US dollar.
XAUUSD Trend: Down Time frame: 60 mins
Current Price: 2306.65
Scenario one: Sell gold around 2313.00 with a target price of 2288.00 Alternative: Buy gold around 2325.00 with a target price of 2350.00
WTI USOILROLL Trend: Down Time frame: 60 mins
Current Price: 78.86
Scenario one: Sell Oil around 79.66with a target price of 77.65 Alternative: Buy Oil around 80.67 with a target price of 82.70
US30 Trend: Up Time frame: 60 mins
Current Price: 38448.00 Scenario one: Buy the index around 38393.00 with a target price of 38743.00 Alternative: Sell the index around 38223.00 with a target price of 37873.00
Comment: Trading above the support line and moving averages favors the rise
Gold&Dow30 expert
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