Gold NFP ahead
The desired seller zone lies between 66-75 gold, having tested that level thrice in the past without a breakthrough. Today, NFP data is expected to be bullish for gold. In this scenario, consider entering buy positions before NFP if the price falls below 54, with a tight stop loss around 48-47 and a target of 2065-2075. I would enter a few minutes before the news, depending on the market conditions.
If gold manages to break the level of 2075, we could witness further upside movement towards 2100. On the other hand, rejection from this resistance zone may lead gold back to the 2040 support level.
If gold manages to break the level of 2075, we could witness further upside movement towards 2100. On the other hand, rejection from this resistance zone may lead gold back to the 2040 support level.
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