Gold Analysis - June 3-4th 2021

2021年6月2日

Hello,

We are approaching a fundamental rally between tomorrow and Friday with the following economic events:

ADP (Automatic Data Processing) Non-Farm Employment - Expecting bad numbers
Unemployment Claims - Expecting bad numbers
PMI - Expecting good numbers
Average Hourly Earnings - Expecting bad numbers
NFP - Expecting good numbers
Unemployment Rate - Expecting good rate

Taking all this information and analyzing it, there is a 50/50 expectation towards the market. There is a very high possibility that Gold will drop into recent demand areas where Buys for me make a lot more sense at the moment continuing the strong bullish momentum it has had. I will be analyzing the following areas for High Risk High Reward Buys:

Zone 1 - 1893 (HRHR Buys)

Zone 2 - 1883 (HRHR Buys)

1st TP - 1912

2nd TP - 1923

From here to tomorrow I can easily see there will be consolidation preparing for the news on Thursday and Friday. If you see price taking a specific direction then consolidating it is preparing to do the complete opposite. In my experience Gold sets and prepares itself at a certain area which becomes a high demand zone, order block and then once news is released the orders will release as well.

Safe trading!