ForexSQ

NFP Forecast on XAUUSD GOLD by ForexSQ

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
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The divergence XAU/USD showed on daily graph was followed with a break of 1335 support where Fibo 23.6% of the latest upward movement is located. Daily graph show that prices are around the lower line of the Bollinger Band also CCI is correcting oversold reading -220 but still stays below -100. Both of these indicators show that Gold is getting ready for its next move and is more likely to continue its recent weakness against USD. 1290 and 1270 levels (Fibo %50 and Fibo %61.8 retracement) may be targeted in case of a positive USD reaction to NFP is received. 1335 area (Fibo %23.6 retracement) is the first short term resistance.


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