Gold Analysis: Expecting Drop to $2370-$2365 After NFP Surge
Updated
Gold Movement Analysis
Date of Analysis: 08th July 2024
Key Levels:
Resistance Break: $2390
Current Range: $2386-$2392
Current Situation:
Gold broke the resistance in the H1 chart and reached up to $2390. The NFP (Non-Farm Payrolls) news caused significant movement, resulting in gold trading within the $2386-$2392 range.
Expected Movement:
Today, we anticipate a heavy fall in gold prices, targeting a drop to $2370-$2365.
Conclusion:
After breaking resistance and reacting strongly to NFP news, gold is expected to experience a decline, with projected prices between $2370 and $2365.
Date of Analysis: 08th July 2024
Key Levels:
Resistance Break: $2390
Current Range: $2386-$2392
Current Situation:
Gold broke the resistance in the H1 chart and reached up to $2390. The NFP (Non-Farm Payrolls) news caused significant movement, resulting in gold trading within the $2386-$2392 range.
Expected Movement:
Today, we anticipate a heavy fall in gold prices, targeting a drop to $2370-$2365.
Conclusion:
After breaking resistance and reacting strongly to NFP news, gold is expected to experience a decline, with projected prices between $2370 and $2365.
Trade closed: target reached
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