Hello, traders.
The economic data can influence market sentiment for today
Gold (XAU/USD) remains within the 2844 - 2858 zone, consolidating above previous resistance. Buyers are holding control, keeping the bullish trend intact. As long as the price stays above 2858, the next target remains 2915, aligned with the rising channel. A breakout above this consolidation would reinforce bullish momentum.
If the price fails to sustain above 2858, a retest of 2844 could follow. A confirmed break below may trigger a correction toward 2809 - 2783. The weaker NFP data (169K vs. 256K previous) could support gold's upside by pressuring the USD, but price action remains the key driver. The overall trend remains bullish unless 2844 is lost, which could shift momentum lower.
The economic data can influence market sentiment for today
Gold (XAU/USD) remains within the 2844 - 2858 zone, consolidating above previous resistance. Buyers are holding control, keeping the bullish trend intact. As long as the price stays above 2858, the next target remains 2915, aligned with the rising channel. A breakout above this consolidation would reinforce bullish momentum.
If the price fails to sustain above 2858, a retest of 2844 could follow. A confirmed break below may trigger a correction toward 2809 - 2783. The weaker NFP data (169K vs. 256K previous) could support gold's upside by pressuring the USD, but price action remains the key driver. The overall trend remains bullish unless 2844 is lost, which could shift momentum lower.
Trade active
Yesterday the price rose, as we mentioned, and touched the new high level at 2886, then reversed to make a correction toward 2858.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.