Gold (XAUUSD) Price Action Analysis - Potential Rise Expected Po

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The chart includes a Bullish Shark harmonic pattern with two Take Profit (TP) levels marked:

TP 1: 2,354
TP 2: 2,373
The current price is at 2,333.104 with the Stochastic RSI indicating oversold conditions, suggesting a potential upward movement.

Key points:

• The chart shows a significant drop leading to the current price.
  
• The area marked for the potential retracement suggests a bullish reversal.
  
• The upcoming Non-Farm Payroll (NFP) data is expected to trigger a rise in the gold price, aligning with the technical indicators and harmonic pattern on the chart.
  
• Traders should watch for the NFP release as it could provide the necessary momentum for gold to reach the specified take profit levels.