TECHNICAL ANALYSIS
On the 4 Hr chart, the price is is converging to the point from where if the break out will head can give a good directional confirmation looking at the current market structure there is a good 4 hr bullish order block as the price can bouce and get a reversal trapping all the seller on the move of breaking out of the converging triangle pattern. Also we can see the liquidity resting above the 4 hr bullish order block signifies that after taking the liquidity price can move higher after we get the confirmation of change of character breaking its current lower high which will give a very nice confirmation for a good long trade.
FUNDAMENTAL ANALYSIS
Growing fears of a U.S. government shutdown did little to deter the dollar’s advance, with higher rates also increasing the greenback’s safe haven appeal over gold. Congress has less than a week to pass a spending bill and avert a shutdown. But both Republican and Democrat leaders indicated little progress was being made towards reaching consensus. While gold is a safe haven, it has seen little actual gains during past government shutdowns. The 2018-2019 shutdown, which was the longest in U.S. history at 35 days, only saw a $20 appreciation in spot prices.
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