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Xauusdupdate

XAU/USD | GOLDSPOT | New perspective | follow-up detailsGold prices take a nosedive as a buoyant US Nonfarm Payrolls (NFP) report throws a shadow of uncertainty over expectations for a Fed rate cut in May. The United States Bureau of Labor Statistics (BLS) recently released robust NFP data for January, revealing a surge in employment with 353K new hires, surpassing the consensus forecast of 180K and the 216K payrolls added in December. Despite market anticipation for a slight increase, the Unemployment Rate remained steady at 3.7%. Adding to the market's jitters, Average Hourly Earnings exhibited a robust growth rate, surpassing expectations. The persistent strength in the inflation outlook has raised concerns among investors. The positive momentum in the labor market is anticipated to shift Federal Reserve (Fed) policymakers towards a more conservative stance, potentially leading to the extension of higher interest rates. In the recent monetary policy statement, Fed Chair Jerome Powell emphasized the need for policymakers to gain greater confidence in the sustained return of inflation to the 2% target. This, coupled with the upbeat labor market data, has created an atmosphere of uncertainty, prompting a significant impact on gold prices. XAUUSD Technical Overview: In this video, we conducted a comprehensive analysis of the XAUUSD chart, utilizing both technical and fundamental perspectives. Our examination included an in-depth study of key levels, historical price movements, market behaviors, and the interplay between buyers and sellers, aiming to unveil potential trading opportunities. Our focal point for the week is the $2,035 zone, endowed with historical significance, rendering it a pivotal level. The sustainability of bullish momentum above this zone could pave the way for continued buying pressure, potentially propelling prices to new highs. Conversely, a breach below the $2,035 level, coupled with persistent selling pressure, might signal a resurgence of bearish sentiment. Immerse yourself in the latest dynamics of the Gold market! Stay well-informed to make strategic investment decisions. #GoldMarket #SafeHavenAssets 📺🔔💼 Disclaimer Notice: Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy. It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances. Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it. Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
PEPPERSTONE:XAUUSD
by darcsherry
1
Gold Update"As I mentioned earlier in this scenario in the previous chat, gold seems to be following the pattern perfectly. Now, I'm looking to buy until it reaches the range of 1938-1941. If it breaks out from there, the next target zone will be 1956-1990. The reason I'm considering buying on the 4-hour time frame is that it has failed to break the support zone at 1921-1915, which I mentioned in the previous chart update. Now, I'm feeling bullish, but I must also keep in mind that there is a WH (wormhole) at 1938-1940 which is strong resistance zone . If gold can't break through that zone on the 4-hour time frame, it may fall again and break the support zone."
OANDA:XAUUSD
by Gravity-Traders-Academy