🔥 XAU/USD - NFP's effect on the GOLD price (READ THE CAPTION)

Updated
Well, as you can see, yesterday, gold was able to grow up to $2051, and after that, the price dropped again, and it is currently trading in the range of $2038! We have to see whether the NFP statistics will be announced today more than expected or less! If the actual rate is announced higher than the forecast, we will see a heavy fall in gold, and otherwise, gold will move to higher targets again! My first scenario is that gold will see lower targets like $2031 and $2020 in the short term! Be careful of extreme market movements and minimize your risk!

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Best Regards , Arman Shaban
Note
Some of You Asked me about NFP and its effect on the market , in Total :

- Non-Farm Payrolls (NFP) is a monthly report that measures the number of jobs added or lost in the U.S. economy, excluding some categories.

- NFP affects the forex market by influencing the demand and supply of the U.S. dollar, which is the most traded currency in the world.

- NFP also affects the gold price by influencing the expectations of inflation and interest rates in the U.S.

- NFP can cause volatility and risks for traders, depending on how the actual numbers compare to the market expectations and how the market participants react to the news.
Trade closed: target reached
Gold is falling heavily! As I expected, the actual rate of NFP was announced higher than expected and caused gold to fall heavily! Gold is currently trading in the range of $2025! I hope you have used it! +150 Pips so far ! ✅
Note
Important Update : Well, by re-examining the gold chart, we can see that the price fell sharply after the announcement of the NFP statistics and It was able to drop to $2024 to collect more liquidity, and after that it was again accompanied by demand pressure, and this pushed gold back up to $2045! Now, if the price stabilizes above $2043.53, we will probably see gold grow to $2056 as the next bullish target!!
Note
The Price Reached $2056 First and hit the target , after that i saw $2064 too and then started to fall from the same range ! Let’s see what would be happening in the next week ! This was enough for this week ! Thank you for all your support ! Cheers !
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