Gold Analysis: Expecting Drop to $2370-$2365 After NFP Surge
Gold Movement Analysis
Date of Analysis: 08th July 2024
Key Levels:
Resistance Break: $2390
Current Range: $2386-$2392
Current Situation:
Gold broke the resistance in the H1 chart and reached up to $2390. The NFP (Non-Farm Payrolls) news caused significant movement, resulting in gold trading within the $2386-$2392 range.
Expected Movement:
Today, we anticipate a heavy fall in gold prices, targeting a drop to $2370-$2365.
Conclusion:
After breaking resistance and reacting strongly to NFP news, gold is expected to experience a decline, with projected prices between $2370 and $2365.
Date of Analysis: 08th July 2024
Key Levels:
Resistance Break: $2390
Current Range: $2386-$2392
Current Situation:
Gold broke the resistance in the H1 chart and reached up to $2390. The NFP (Non-Farm Payrolls) news caused significant movement, resulting in gold trading within the $2386-$2392 range.
Expected Movement:
Today, we anticipate a heavy fall in gold prices, targeting a drop to $2370-$2365.
Conclusion:
After breaking resistance and reacting strongly to NFP news, gold is expected to experience a decline, with projected prices between $2370 and $2365.
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.