Gold: Dual Impact of NFP and Geopolitical Risks
Updated
Good morning, everyone!
Yesterday’s intense market fluctuations made fortunes for some and losses for others overnight.
As time progresses, we see clearly on the 30-minute chart that MA60 has shifted downward from around 2770 to 2760, while the primary uptrend support has moved up from 2730 to approximately 2740. This suggests that, under MA60 resistance, gold might retrace to test support near 2740.
Meanwhile, the upcoming Non-Farm Payroll (NFP) and unemployment data will be key drivers for gold’s direction. And don’t overlook another major factor: a potential response from Iran, which could bolster gold’s safe-haven demand.
After reading this, do you feel more clear on your trading strategy? If not, feel free to read it again, or reach out to me—I’m here to help clarify and refine your approach!
Yesterday’s intense market fluctuations made fortunes for some and losses for others overnight.
As time progresses, we see clearly on the 30-minute chart that MA60 has shifted downward from around 2770 to 2760, while the primary uptrend support has moved up from 2730 to approximately 2740. This suggests that, under MA60 resistance, gold might retrace to test support near 2740.
Meanwhile, the upcoming Non-Farm Payroll (NFP) and unemployment data will be key drivers for gold’s direction. And don’t overlook another major factor: a potential response from Iran, which could bolster gold’s safe-haven demand.
After reading this, do you feel more clear on your trading strategy? If not, feel free to read it again, or reach out to me—I’m here to help clarify and refine your approach!
Trade active
CoolTrade active
It’s time to get ready to buyTrade active
Have a great weekend, everyone!
Related publications
Disclaimer
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.