Gold Pulls Back After Strong US NFP Data

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📊 Market Overview:

U.S. June Non-Farm Payrolls came in at 147,000 vs. 110,000 expected, strengthening the dollar and reducing expectations for a July Fed rate cut. As a result, gold dropped nearly 1%, trading in the $3,328–3,332 zone

📉 Technical Analysis:

• Key Resistance: $3,350 – $3,360
• Immediate Support: $3,322 – $3,328
• EMA: Price has fallen below the 09 EMA, indicating a bearish short-term trend.
• Candle/Volume/Momentum: A strong bearish candle with increased volume shows significant selling pressure post-NFP

📌 Outlook:

Gold may continue its downtrend in the short term if the dollar remains strong and no fresh bullish triggers emerge. A drop toward $3,322–$3,328 is possible.

💡 Trade Ideas:

🔻 SELL XAU/USD at: $3,342 – $3,345
🎯 TP: $3,322
❌ SL: $3,348

🔺 BUY XAU/USD at: $3,322 – $3,325
🎯 TP: $3,345
❌ SL: $3,316

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Giao dịch đang hoạt động

Slow but steady, gold finally moved

+85 pips from entry 3345$
TP2: Hit

Congratulations!

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Đóng lệnh: đạt mục tiêu

The market is moving sideways with an upward bias.