GOLD MAINTAINS UPSIDE MOMENTUM AFTER ADP NONFARM DATA RELEASE
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🔺 Market Overview: Gold continues to maintain its bullish momentum, having reclaimed key resistance levels after the ADP Nonfarm report was released yesterday. Despite recent U.S. economic data and the uncertainty surrounding tariff policies, the USD has weakened following a brief recovery over the weekend.
🔺 Current Outlook for Gold: Given the economic news and the candle strength on the chart, I’m still looking for BUY opportunities in Gold. During the Asian and European sessions, we can anticipate BUY setups early, as Gold could reach the key resistance zones, offering good SELL scalping opportunities just like we saw yesterday at the 2928 - 2926 zone, which resulted in a 150-pip profit.
📊 Market Range Today: The price range today may be sideways as we await important Nonfarm data tomorrow. Pay close attention to the support and resistance levels.
📌 Final Thoughts & Trading Tips: Key Levels: The key levels have been noted above. Pay attention to the critical support and resistance zones. Stay Focused: Today, the market is likely to be in a sideways range, so be patient and wait for confirmation before executing trades. Nonfarm Data: Keep an eye on important Nonfarm data tomorrow. This could trigger significant price movements.
💡 Reminder: Always follow your TP/SL levels to ensure safe trading and protect your capital. Trade with caution and stay disciplined!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.