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💡Message Strategy
Small non-farm data "big surprise"
The ADP employment report released on Wednesday showed that the number of private employment in the United States decreased by 33,000 in June, the first decline since March 2023. Economists surveyed previously expected the number to increase by 100,000 on average.
The ADP employment report showed that the number of private employment in the United States fell for the first time in more than two years in June, indicating that the Federal Reserve may cut interest rates as early as September.
Spot gold closed up $18.20 on Wednesday at $3,356.90 per ounce.
Bednarik pointed out that gold has gained upward momentum recently, with a gold price target of $3,373.50 per ounce. The "big surprise" of the ADP data suggests a weak non-farm payrolls report in June.
📊Technical aspects
1. The daily line was the support line for the rise in the previous month. It fell back very hard last week and turned into suppression. It was tested repeatedly and finally a big Yin hit the lower track of the pattern. However, it started at a low point this week and rose steadily. Now it has returned to the top of the lifeline again. At this point, the space will consider switching again.
2. The four-hour pattern opens slightly upward, with the lifeline 3330 as the dividing line between strength and weakness. Hold here and climb upward step by step.
3. The double lines on the hourly chart formed a dead cross after breaking through and turning into pressure last week, which helped to further increase the volume and fall by more than 100 US dollars. After breaking through and standing on it this time, it turned into support. The double line range is 3332-3342. This area is used as the boundary to switch between the upper and lower spaces. The support line for the bulls to dominate is the upper rail position of 3332, and the support line for the bulls to sweep is the lower rail position of 3316
💰Strategy Package
Long Position:3332-3340，SL：3316，Target: 3400
💡Message Strategy
Small non-farm data "big surprise"
The ADP employment report released on Wednesday showed that the number of private employment in the United States decreased by 33,000 in June, the first decline since March 2023. Economists surveyed previously expected the number to increase by 100,000 on average.
The ADP employment report showed that the number of private employment in the United States fell for the first time in more than two years in June, indicating that the Federal Reserve may cut interest rates as early as September.
Spot gold closed up $18.20 on Wednesday at $3,356.90 per ounce.
Bednarik pointed out that gold has gained upward momentum recently, with a gold price target of $3,373.50 per ounce. The "big surprise" of the ADP data suggests a weak non-farm payrolls report in June.
📊Technical aspects
1. The daily line was the support line for the rise in the previous month. It fell back very hard last week and turned into suppression. It was tested repeatedly and finally a big Yin hit the lower track of the pattern. However, it started at a low point this week and rose steadily. Now it has returned to the top of the lifeline again. At this point, the space will consider switching again.
2. The four-hour pattern opens slightly upward, with the lifeline 3330 as the dividing line between strength and weakness. Hold here and climb upward step by step.
3. The double lines on the hourly chart formed a dead cross after breaking through and turning into pressure last week, which helped to further increase the volume and fall by more than 100 US dollars. After breaking through and standing on it this time, it turned into support. The double line range is 3332-3342. This area is used as the boundary to switch between the upper and lower spaces. The support line for the bulls to dominate is the upper rail position of 3332, and the support line for the bulls to sweep is the lower rail position of 3316
💰Strategy Package
Long Position:3332-3340，SL：3316，Target: 3400
Trade active
Is the three consecutive rises in gold prices a foregone conclusion? Non-farm payrolls are coming tonight
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.