GOLD price movement ahead of the NFP
Gold price movement ahead of the NFP report and have identified key support and resistance zones. Let's break down your forecast:
Current Price: 2866
Support Levels: 2860/58,
2nd 2852-50 These reversal zones
Buy Zone: If the price fails to react positively near the support and breaks below 2860/58, you anticipate a possible reversal from the 2852-50 range.
Target 1: 2885 if price rises and holds above the current level)
Target 2: 2889 a strong level of resistance; breaking From this Level Then,
Target 3: 2900 Then Last target
As for the NFP release, it can cause volatility in gold prices. Generally, if the data comes in stronger than expected, it might push the USD higher, which could put pressure on gold prices (if investors anticipate more aggressive rate hikes). On the other hand, a weaker-than-expected NFP number could favour gold as a safe-haven asset, potentially leading to a rise in price.
If the price of gold holds above 2860/58 or manages to reverse from 2852-50, the buying momentum you expect could carry it toward the targets as i mentioned.
if you like this analysis please support my work and fallow thanks for Love.
Current Price: 2866
Support Levels: 2860/58,
2nd 2852-50 These reversal zones
Buy Zone: If the price fails to react positively near the support and breaks below 2860/58, you anticipate a possible reversal from the 2852-50 range.
Target 1: 2885 if price rises and holds above the current level)
Target 2: 2889 a strong level of resistance; breaking From this Level Then,
Target 3: 2900 Then Last target
As for the NFP release, it can cause volatility in gold prices. Generally, if the data comes in stronger than expected, it might push the USD higher, which could put pressure on gold prices (if investors anticipate more aggressive rate hikes). On the other hand, a weaker-than-expected NFP number could favour gold as a safe-haven asset, potentially leading to a rise in price.
If the price of gold holds above 2860/58 or manages to reverse from 2852-50, the buying momentum you expect could carry it toward the targets as i mentioned.
if you like this analysis please support my work and fallow thanks for Love.
Trade active
Sell Position gave us 130 Pips Done Trade from 2865 to 2852
Buy position 170 Pips Running Wonderfully Guys
Trade closed: target reached
Trade from 2852 to 2886 340 Pips Hit Target
Close all Trade Happy weekend
Note
Nice achievement Traders.
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Join my Telegram channel
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t.me/+SFFwl7TAPDhkZDA0
Contact For Learning
t.me/GOLDFREESIGNALS134
Related publications
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.