Short

XAU/USD : NFP's effect on the market! (READ THE CAPTION)

Updated

In the latest analysis of the gold chart on the 30-minute timeframe, we can see that, as expected, yesterday the price rose to $2654, and exactly after reaching this key level, it faced heavy selling pressure and corrected by 175 pips down to $2637. After hitting the target of $2638 and gathering the liquidity below this level, buying pressure emerged, and today it managed to rise to $2667. Currently, gold is trading around $2656, and in less than 30 minutes, the NFP data will be released. If the figures come in higher than the forecast, it could lead to a decline in gold prices to lower levels, and conversely, if the figures are below the forecast, it could lead to an increase in gold prices. Please note that the risk of an Israel-Iran war still hangs over this market, so we should be cautious with our personal trades. Personally, I believe that today the NFP figures will be higher than expected, which may lead to a decline in gold prices. The potential targets are $2654.5, $2649, $2642.5, and $2638, respectively.

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

Trade closed: target reached

~ $2654 Reached ✅
~ $2649 Reached ✅
~ $2642 Reached ✅
~ $2638 Reached ✅

Full Target Reached : +235 Pips

Trade closed manually

As you can see the price started to fall exactly after the NFP’s announcement and hit our all 4 targets , the total results for this analysis is +250$ and the main analysis is still valid , so we consider this position as “CLOSED” with targets and we will update as soon as possible ! Thanks for your supports everyone !

Note

What do you think—should we drop a few new analyses today before the market opens? Let us know your thoughts! 💬📈

Trade closed: target reached

This analysis is no longer valid as it has fully reached its target. Therefore, it will not be updated further. You can check out the new update on Gold, which I will post soon, on my TradingView Home Page. Feel free to review it and share your thoughts with me.

ArmanShabanTrading

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