Gold 04/08 goes sideways waiting for non-agricultural news.
Markets were now focused squarely on nonfarm payrolls data due later in the day, which is expected to show that the U.S. labor market remained steady through July.
Any signs of resilience in the labor market give the Fed more impetus to hike interest rates further, given that the bank is targeting some cooling in labor conditions as part of its crusade against inflation.
Framework H4 I'm working on. Gold can be seen moving sideways since the morning of April 8, very slight oscillation about 1930-1938. I think with such a large compression, tonight's NonFarm will be very strong, we should wait for the real news. then let's trade.
What are your ideas, let me know in the comments below. Thank!
Any signs of resilience in the labor market give the Fed more impetus to hike interest rates further, given that the bank is targeting some cooling in labor conditions as part of its crusade against inflation.
Framework H4 I'm working on. Gold can be seen moving sideways since the morning of April 8, very slight oscillation about 1930-1938. I think with such a large compression, tonight's NonFarm will be very strong, we should wait for the real news. then let's trade.
What are your ideas, let me know in the comments below. Thank!
Comment:
Price closing candle 1942, expect a brighter new week
Trade active:
Gold is on the right trajectory that I have drawn
Comment:
The strength of the dollar kept the metal market overall in the dark, as investors awaited further economic signals from US consumer price index (CPI) inflation data on Thursday.
Trade closed: target reached:
gold 11.08, has reached a resistance level that I have seen since 04.08. I have a plan for next week, hope everyone can profit from it. Good luck to everyone in the market. and follow me for free plan. thanks everyone!
