Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1799.4). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis: . Gold (XAUUSD) is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 48.
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On monday dollar is expected to depreciate due to negative non farm payroll data released on fri. This will make all other pairs against dollar to rise including gold. So both technicals and fjndamentals now support a rise in gold lets see how monday shapes up.
Vineetpats
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Dollar is expected to depreciate on Monday due to negative non farm payroll data released on friday.
DIVIT18
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Great analysis , helped me a lot
RAHUL_CHILAP
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I will wait till price rejection:) Thanks for your help.
ForecastCity_ME
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You're welcome! @RAHUL_CHILAP, Thanks for your comment.