GOLD 4H : Waiting for released NFP
Updated
GOLD
New forecast
The Nonfarm Payrolls report will be released in America today, Friday. As a general rule, if the jobs report is higher and the unemployment rate is lower than expectations, the result is positive for the US dollar, otherwise the effect is negative.
US Treasury bonds, especially for 10 years, have reached their highest levels since 2007. The market is expected to witness significant price fluctuations, so traders must manage risks carefully today and focus on the three reports (jobs, unemployment and wages).
Technical abstract :
The price of gold presented additional negative trades to reach the outskirts of the expected target at 1815, and is under continuous negative pressure, to support the chances of continuing the downward trend and exceeding the aforementioned level to open the way towards heading towards 1802 as the next negative target.
Therefore we the downward scenario will be remain valid and effective Noticeable that it supports the suggested negative scenario, which will remain in place unless the 1839 level is breached and holds above it.
The expect range trading for today it will be between resistance line 1830 and support line 1815 until stabilized
Additionally ,Today News will affect the market .
support line : 1815 , 1802
resistance line : 1830 , 1840
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The Nonfarm Payrolls report will be released in America today, Friday. As a general rule, if the jobs report is higher and the unemployment rate is lower than expectations, the result is positive for the US dollar, otherwise the effect is negative.
US Treasury bonds, especially for 10 years, have reached their highest levels since 2007. The market is expected to witness significant price fluctuations, so traders must manage risks carefully today and focus on the three reports (jobs, unemployment and wages).
Technical abstract :
The price of gold presented additional negative trades to reach the outskirts of the expected target at 1815, and is under continuous negative pressure, to support the chances of continuing the downward trend and exceeding the aforementioned level to open the way towards heading towards 1802 as the next negative target.
Therefore we the downward scenario will be remain valid and effective Noticeable that it supports the suggested negative scenario, which will remain in place unless the 1839 level is breached and holds above it.
The expect range trading for today it will be between resistance line 1830 and support line 1815 until stabilized
Additionally ,Today News will affect the market .
support line : 1815 , 1802
resistance line : 1830 , 1840
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GOLD UPDATE
The price perfectly fulfills my last idea and price reached to our first target +90 pip
now , to confirm the bearish trend should stable under 1915 at least for 4H candle and then it will open the way to drop more and more .
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