GOLD BULLISH
XAUUSD Technical Analysis 03.06.2022 1h chart – Previous Daily candle closed strong Bullish at 1869 breaking the previous Weekly High and closing above strong Daily Resistance formed on (25.05.2022) as ADP Numbers were a lot worse than forecast.
– Buys on close above 1870.500 targeting 1h Resistance at 1875.100 leaving Runners to 1h Resistance at 1881.300.
– Sells on close below 1865.500 targeting 4h previous Resistance formed on (30.05.2022) at 1861.200 leaving Runners to Daily previous Resistance at 1856.000.
– Average Hourly Earnings m/m is forecasted to rise to 0.4% from 0.3%, we also have Non-Farm Employment Change (NFP) forecasted at 325k from 428k as Unemployment Rate is expected to fall by 0.1% from 3.6% to 3.5%, all data to be released 30min after NY Open followed by ISM Services PMI and FOMC Member Brainard speaking 30min after NYSE Open. high Volume is expected in the NY Session so waiting for confirmation and Managing Risk is a must.
– Buys on close above 1870.500 targeting 1h Resistance at 1875.100 leaving Runners to 1h Resistance at 1881.300.
– Sells on close below 1865.500 targeting 4h previous Resistance formed on (30.05.2022) at 1861.200 leaving Runners to Daily previous Resistance at 1856.000.
– Average Hourly Earnings m/m is forecasted to rise to 0.4% from 0.3%, we also have Non-Farm Employment Change (NFP) forecasted at 325k from 428k as Unemployment Rate is expected to fall by 0.1% from 3.6% to 3.5%, all data to be released 30min after NY Open followed by ISM Services PMI and FOMC Member Brainard speaking 30min after NYSE Open. high Volume is expected in the NY Session so waiting for confirmation and Managing Risk is a must.
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