Do you think GOLD will go up or down today with the Nonfarm newsDo you think GOLD will go up or down today with the Nonfarm news?
In the Asian and European sessions, gold will still have a sideways range, but the range will be smaller than yesterday.
The price reaction will be from the 2916-2919 area down to 2900. And it's likely that today's Nonfarm news will be a liquidity sweep of buy orders to the 38.2% Fibonacci level, which is the 2970-2980 price range
-In summary, this analysis predicts that:
+ Before the Nonfarm news is released, the price of gold may trade within a narrow range.
+When the Nonfarm news is released, there is a possibility that the price of gold will make a temporary sharp move up to around 2970-2980 to "sweep liquidity" from buy orders, before potentially reversing downward.
