Negative for GOLD today, waiting for NF
Hi trader, Maria would like to share my opinion
The widely known Nonfarm Payrolls (NFP) report will influence expectations about the Federal Reserve's (Fed) future rate-hike path and provide a fresh directional impetus to the Gold price. In the meantime, the prospects for further policy tightening by the Fed remain supportive of elevated US bond yields, which helps the US Dollar (USD) to stall a two-day corrective slide from the YTD peak and should cap gains for the precious metal.
Continuing the strong downward trend this week, prices are having a lot of compression before continuing to decline after today's NF news was announced.
Signal today: 6/10/2023
! BUY XAU 1800-1803 SL 1792
TP: 1810, 1818, 1830
! SELL GOLD 1823-1825 SL 1830
TP: 1818, 1810, 1800
Good luck everyone $$$
The widely known Nonfarm Payrolls (NFP) report will influence expectations about the Federal Reserve's (Fed) future rate-hike path and provide a fresh directional impetus to the Gold price. In the meantime, the prospects for further policy tightening by the Fed remain supportive of elevated US bond yields, which helps the US Dollar (USD) to stall a two-day corrective slide from the YTD peak and should cap gains for the precious metal.
Continuing the strong downward trend this week, prices are having a lot of compression before continuing to decline after today's NF news was announced.
Signal today: 6/10/2023
! BUY XAU 1800-1803 SL 1792
TP: 1810, 1818, 1830
! SELL GOLD 1823-1825 SL 1830
TP: 1818, 1810, 1800
Good luck everyone $$$
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