Pre-NFP Gold #XAUUSD Analysis
XAUUSD Pre-NFP Analysis
For the past five days, #XAU-USD #Gold has maintained a range between 1801 and 1822. A closer look at the four-hour chart reveals a continuous bullish trend. However, it is important to highlight that NFP comes with huge volatility that can change or amplify the current trend.
As per current status, the support and resistance of Gold look as follows:
SUPPORT & RESISTANCE
#XAUUSD Support
Support 1: 1682
Support 2: 1666
Support 3: 1585
#XAUUSD Resistance
Resistance 1:1755
Resistance 2: 1825
Resistance 3: 1849
Predicted XAUUSD/GOLD Market Behavior
Predictably, the volatility that NFP will present will tend to push Gold to around 1799 then shoot it up to over 1844. By the close of the trading day, Analytic Dave expects to see Gold plunged between 1844 and 1926. If 1926 or there around is seen, Gold will have reached its exhaustion phase, which means that soon a mega drop to below 1600 will be witnessed. As of today, my bias remains bullish.
Analytic Dave
AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.
