GOLD - Pre-NFP shakeup. Should we wait for a decline?
GOLD is in the strongest rally in recent times. Interestingly, gold is rising along with the pair's antagonist, the dollar. Earlier today, a false break of 2305 was formed, which looks like a liquidation of sellers that started to appear by the correction momentum of April 4.
We have NFP ahead of us, most likely the data may show a bullish mood in the US market, which may be unfavorable for the gold market, in which case it may trigger a decline towards key support areas.
News volatility may give a retest of 2300 after which we should expect a decline to 2265-2250.
We have NFP ahead of us, most likely the data may show a bullish mood in the US market, which may be unfavorable for the gold market, in which case it may trigger a decline towards key support areas.
News volatility may give a retest of 2300 after which we should expect a decline to 2265-2250.
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