GOLD Supported Prior to NFP

The main even the Non Farm Payrolls will determine the move in gold. However, we might expect a small move to the upside prior to the news. After the NFP, we could see the following scenarios:

  1. Move up from the 1799 zone towards 1812 and if it breaks 1830.
  2. 1830 holds and we have a sell trade there
  3. 1830 breaks and 1855 is next
  4. 1795 breaks and the price goes lower to 1786
  5. 1786 breaks and 1765 is retested.

Watch for the full NPF report and trade GOLD.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.