XAUUSD 07/07: Gold price before Non-Farm news

Jul 7, 2023

XAUUSD The US economy remains resilient allowing the Fed to continue raising interest rates.

XAU/USD is down for a second day in a row, though it managed to bounce off the aforementioned lows and trade around $1,190. Technical indicators exhibit moderate to bearish slopes in negative levels, maintaining downside risk.

In the short term, the bears have full control over XAU/USD. This pair develops below all its moving averages.

Support level: 1,903.00 1,892.95 1,877.10
Resistances: 1,922.50 1,930.70 1,945.20


You might consider Buy XAUUSD around 1905 - 1908
And my goal will be 1915 – 1929

You might consider Sell XAUUSD around 1918 - 1915
And my goal will be 1908 – 1894


Note: Fully install TP, SL to prioritize safety in trading and conquering the market.