
NFP decline may support gold - if the actual NFP comes in below forecast (169K), it will reinforce expectations of an imminent Fed rate cut.
Weaker labor market → pressure on the dollar → gold rises.
Fed and policy:
At 15:00, the Fed's monetary policy report will be released, which could clarify the regulator's future course.
If signaling easing → gold up. If there will be hawkish notes → pressure on XAUUSD, but we should also take into account Trump's policy on economic risks
Conclusion on XAUUSD:
In the medium term there is every chance to reach $3,000, locally it all depends on the news: weak NFP and lack of wage growth could send gold above $2,900.
If the data turns out to be strong → a downward correction is possible
Resistance levels: 2870, 2882
Support levels: 2858, 2848
Technically, the focus is on the 2870 resistance. If the price can break this resistance and consolidate above, this maneuver will open the way to further upside. I do not rule out a retest of the channel boundary or 2858 before further upside.
Regards R. Linda!
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🌹TRADING is a CASINO💔!?
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You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
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🧿 Web: rlinda.com
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