GOLD 4H
The bearish trend is still in control of gold and is awaiting data on the Employment Report and the Unemployment Rate
🔹 The US dollar is still grinding currencies, metals, and indices, so that gold is heading towards recording its worst weekly performance in two months.
🔹 However, today the markets are awaiting job, unemployment and wages data at 12:30 GMT, and it will have a very significant impact on the movement of financial markets.
🔹 In the event that the data is positive today, the US dollar will witness greater increases, and in return, we will witness a strong decline in currencies, indices, and gold.
currently, the price at the sensitive zone between 1930 and 1936
If the data is positive
consolidation under 1930 it will help the price to drop more and reach to 1921 and 1910.
If the data is Negative
stabilized above 1936 it will support the price to rise up again to the suggested targets 1945 ,1953,
the expect trading range for today is between the support line 1936 and resistance line 1930 until stabilized.
support line: 1930 ,1921 ,1910
resistance line: 1945, 1953, 1962
🔹 The US dollar is still grinding currencies, metals, and indices, so that gold is heading towards recording its worst weekly performance in two months.
🔹 However, today the markets are awaiting job, unemployment and wages data at 12:30 GMT, and it will have a very significant impact on the movement of financial markets.
🔹 In the event that the data is positive today, the US dollar will witness greater increases, and in return, we will witness a strong decline in currencies, indices, and gold.
currently, the price at the sensitive zone between 1930 and 1936
If the data is positive
consolidation under 1930 it will help the price to drop more and reach to 1921 and 1910.
If the data is Negative
stabilized above 1936 it will support the price to rise up again to the suggested targets 1945 ,1953,
the expect trading range for today is between the support line 1936 and resistance line 1930 until stabilized.
support line: 1930 ,1921 ,1910
resistance line: 1945, 1953, 1962
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