✅As per our Technical Confluence indicator, the Gold Price floats within a $40 region multiple resistance area ahead of this week’s top-tier US inflation and employment clues.
✅That said, a convergence of the Pivot Point one-day R1 and the previous daily high guards the immediate recovery of the Gold Price near $1,928.
✅Following that, the 200-SMA on the four-hour (4H) chart and Fibonacci 61.8% on one-month, around $1,937, restricts further upside of the Gold Price.
✅In a case where the XAU/USD buyers keep the reins past $1,937, the Pivot Point one-week R2 around $1,945 will act as the last defense of the Gold sellers.
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We're going to have some pretty important news tonight. That is CB Consumer Confidence news. Signal I will update soon🥰🥰
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The main plan for today's CB news will be to sell gold around the area 1929 - 1932