🔥 XAU/USD - NFPs effect on GOLD (READ THE CAPTION)

3月8日

By checking the gold chart, we can see that the price is still setting new records and reached $2170 in the past hours! In front of the price, we have the psychological resistance of $2200, and on the other hand, we are witnessing a large liquidity gap between $2030 and $2170, which I believe will be filled in the medium term with a heavy fall in gold! Pay attention that the views for the continuation of the gold trend are more bullish and we can announce the downward/corrective targets when the signs of the price drop are clear on the chart (which is not currently)! Today we will have the NFP statistics and if the announced rate is higher than the predicted rate, it will be in favor of the dollar index and to the detriment of gold, and vice versa if the actual rate announced is lower than the predicted rate, the dollar index will fall and the GOLD will grow !

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Best Regards , Arman Shaban