The Retail Sales report gauges the change in the aggregate value of sales at the retail level across the country. It is an important indicator of consumer spending, accounting for the majority of overall economic activity. The per cent changes reflect the rate of changes in such sales. Usually, a positive economic growth anticipates bullish sentiment towards the euro, while a negative reading is seen as unfavourable, or bearish, for the euro.
At the end of last trading week, Gold had 1 week of growth from 1848 to 1916 ($ 68) and closed the weekly candle at 1898. As in the comments at the end of the week, I shared that Gold had a week of moderate gain. but in terms of increasing force, it is still in the strong decline force of the previous week. And in my opinion it was natural and this rebound could be the recovery that takes the force to go deeper this week.
After Wednesday, the uptrend eased slightly, yesterday on Thursday Gold regained its momentum in the first 2 days of the week. During yesterday's session Gold rose from 1884 to 1912 ($ 28) and ended this candle with a bullish candle with a daily close at 1906 higher than the closing price of 2. The previous day signaled that gold's uptrend is not over yet and it is possible that Gold will continue to be supported in Asia session today.
Gold ended the last trading week of September with a bearish candle with a strong downward force from 1956 to 1848 ($ 108) and closed the weekly candle at the 1863 price zone. Last week's candle was also 5 weeks of gold trading in a large amplitude but not yet clearly broken. Looking at the weekly time frame, we can easily see a very strong selling force of gold and also the main trend in the coming time.