GOLD has reversed its upward trend and a local downward channel is forming. There is pressure from sellers on the market while the dollar is rising...
NFP data will be released today. The market may form a short squeeze before declining within the local downward trend.
There is a possibility that NFP data will be strong (needed by the presidential administration) to confirm the readiness to lower interest rates.
Scenario: ahead lies a strong resistance zone at 3311.5 - 3324.85. The formation of a false breakout could intensify bearish pressure, leading to a decline in prices to 3255
NFP data will be released today. The market may form a short squeeze before declining within the local downward trend.
There is a possibility that NFP data will be strong (needed by the presidential administration) to confirm the readiness to lower interest rates.
Scenario: ahead lies a strong resistance zone at 3311.5 - 3324.85. The formation of a false breakout could intensify bearish pressure, leading to a decline in prices to 3255
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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.
❤️ Telegram channel: t.me/AndeWave
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.