GOLD → Consolidation ahead of NFP. Rise to 2328 or fall to 2250?

3 thg 5

XAUUSD decreases volatility, smoothly moving into a consolidation phase before the publication of NFP. The market structure is bearish and the overall fundamentals are negative. What should we wait for?



Today is quite a busy news day, but all attention is focused on NFP. The gold market is locally bearish and set for further decline. Breakout of 2295 and price consolidation below this area will form a bearish potential. But on the news background anything can happen, like a shakeout to 2328 before a further fall to 2250, or an attempt to break the trend resistance....

Resistance levels: 2305, 2328, 2346
Support levels: 2295, 2280, 2267

Technically and fundamentally the market is weak and ready to conquer the lower liquidity zones, but there is news ahead. It is impossible to determine the movement in advance, but based on the general data, there is a probability to see the continuation of the decline.

Regards R. Linda!

3 thg 5

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Bullish momentum on the back of the news

3 thg 5

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Downward impulse (shake)
Breach of 2295.
price is testing 2277

3 thg 5

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The trading session closes with losses.
The market is still trading under the pressure of sellers

4 thg 5

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Gold on H1, H4 and D1 closes with the possibility of decline in the medium term