GOLD MAY RETEST $2080 NEXT WITH NFP AND UNEMPLOYEMENT

Gold has experienced remarkable growth lately following a breakout in the supply zone. The impulses have completed the 5th wave, signaling a potential downward shift, especially with the anticipation of positive NFP data. We foresee a retracement towards the highlighted supply zone, notably around the $2080 mark, a significant price level. Testing both the upper boundary of the channel and the 1.68% Fibonacci retracement, we have reasonable expectations for a forthcoming bearish movement.

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Rising Wedge Pattern