XAUUSD depends on the upcoming news and the reaction of the Fed. Based on previous data, traders expect Friday's employment report to show only 189K new jobs compared to 270K in the previous month, and the unemployment rate to remain unchanged. But the actual data plays a bigger role. Rising unemployment and slowing economic growth may support the gold, as the dollar may continue its localized decline on this background. But, unpredictable data can increase the volatility and affect the market structure in a very opposite way.
Resistance levels: 2364. 2387
Support levels: 2355, 2350, 2341
Technically, on 1H gold shows bullish prerequisites, but the economic component plays a big role, which can both support the current movement and reverse it up to liquidation and decline to 2340-2320.
Resistance levels: 2364. 2387
Support levels: 2355, 2350, 2341
Technically, on 1H gold shows bullish prerequisites, but the economic component plays a big role, which can both support the current movement and reverse it up to liquidation and decline to 2340-2320.
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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.