GOLD (XAUUSD): Technical Outlook Ahead of NFP ๐ฅ
https://www.tradingview.com/x/J3nPGcYk/
Traders, remember that we are expecting the NFP release today.
Here is my technical outlook for Gold ahead of the news.
Analyzing a daily time frame, we can spot that the market is under a strong bearish pressure.
The market is very close to a key daily support 1803 - 1811.
Checking a 4H time frame, I see a slowing bearish momentum and a consolidation.
The price started to respect 1827 - 1833 intraday resistance.
For now, I would suggest to wait for a test of a daily support
and look for a confirmation to catch a pullback from there.
Alternatively, a bullish breakout of the underlined red resistance will confirm
the initiation of a correctional movement.
Lastly, in case of very bearish news, I will post the updated analysis on a weekend.
For now, I strictly recommend not to trade the market and wait for the fundamentals first.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
Traders, remember that we are expecting the NFP release today.
Here is my technical outlook for Gold ahead of the news.
Analyzing a daily time frame, we can spot that the market is under a strong bearish pressure.
The market is very close to a key daily support 1803 - 1811.
Checking a 4H time frame, I see a slowing bearish momentum and a consolidation.
The price started to respect 1827 - 1833 intraday resistance.
For now, I would suggest to wait for a test of a daily support
and look for a confirmation to catch a pullback from there.
Alternatively, a bullish breakout of the underlined red resistance will confirm
the initiation of a correctional movement.
Lastly, in case of very bearish news, I will post the updated analysis on a weekend.
For now, I strictly recommend not to trade the market and wait for the fundamentals first.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
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