The non - farm payrolls data has "disrupted" the gold market.This week’s trading wrapped up successfully. Our exclusive VIP trading signals achieved a 95% accuracy rate!
After the release of the non-farm payrolls data last night, the gold price dropped as expected, but then it quickly bottomed out and rebounded, continuing to maintain a volatile trend. Recently, the impact of the non-farm payrolls data on the gold market seems to be gradually weakening, and its fluctuation range is even smaller than usual. In the 1-hour chart of gold, the moving averages formed a bearish arrangement with a death cross pointing downward, and they eventually continued to diverge downward. Currently, gold is under pressure and has pulled back under the suppression at the level of 3,270. Therefore, the area around 3,270 will still be a crucial turning point between the bulls and bears of gold next week. Although there was a rebound in the late night for gold, in fact, the extent of the rebound was not significant compared with the decline. If gold fails to break through the pressure at 3,270 next week, at most, it will just be in a range-bound situation, and the bullish trend of gold will not reverse easily for the time being.
Trading Strategy:
Sell@3260-3270
TP:3230-3240
If your current gold trading performance is not satisfactory and you hope to avoid detours in your investment, you are welcome to communicate and exchange ideas with us!
