XAUUSD: NFP data is coming, how to make a trading plan?
Updated
Yesterday's ADP data showed an increase of 99,000 jobs, the lowest since January 2021, significantly lower than the expected 145,000 and the previous value of 122,000. This provided a significant positive for gold. Fortunately, the subsequent initial jobless claims and two PMI data were negative, which suppressed the rise of gold and prevented the expectation of a consistent recession in all economic data.
It is precisely because of this that the price of gold fell to our buying range of 2500-2505 and then rose again, giving us the opportunity to buy at 2505 and take profits at 2516.
There are less than two weeks before the Fed's September rate cut, whether it is a 25 basis point or 50 basis point cut. Today's NFP data will play a decisive role. Everyone must pay attention to it. The fluctuation may be very large at that time.
Everyone knows the importance of the monthly NFP data, and I don't need to explain too much. Therefore, today's technical reference is not as significant as the data. Everything has to wait for the results of the data release, so it is difficult to judge.
Given the uncertainty in today's market, I can't give you a specific trading strategy in advance, because it needs to be adjusted according to the actual market conditions. But I prefer to wait for a pullback and buy bullish, or make a trading plan based on the data performance after the data is released.
I hope the above strategy is useful to everyone. In fact, you can be more cautious and give up today's trading, or make a trading plan based on the specific market trend after the data is released.
It is precisely because of this that the price of gold fell to our buying range of 2500-2505 and then rose again, giving us the opportunity to buy at 2505 and take profits at 2516.
There are less than two weeks before the Fed's September rate cut, whether it is a 25 basis point or 50 basis point cut. Today's NFP data will play a decisive role. Everyone must pay attention to it. The fluctuation may be very large at that time.
Everyone knows the importance of the monthly NFP data, and I don't need to explain too much. Therefore, today's technical reference is not as significant as the data. Everything has to wait for the results of the data release, so it is difficult to judge.
Given the uncertainty in today's market, I can't give you a specific trading strategy in advance, because it needs to be adjusted according to the actual market conditions. But I prefer to wait for a pullback and buy bullish, or make a trading plan based on the data performance after the data is released.
I hope the above strategy is useful to everyone. In fact, you can be more cautious and give up today's trading, or make a trading plan based on the specific market trend after the data is released.
Trade active
NFP data and unemployment data will be released in 5 minutesTrade active
The just released NFP data is bullish for gold, and the unemployment rate data is in line with market expectationsTrade active
The NFP data released was 142,000, which was not in line with the market expectation of 160,000, but it was an increase from the previous value of 114,000. I think gold will fall in the later period, so you can look for opportunities to sell when it rebounds.Trade active
Gold just retraced back to the 2500-2505 support range again and I boughtTrade active
We just bought at 2503 and took profit at 2515
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📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
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