✅ Fundamental Overview:
The U.S. ADP employment data released on Wednesday came in significantly below expectations, with only -33,000 new jobs added, far short of the market forecast of 100,000. This raised concerns about a potential slowdown in the U.S. labor market and strengthened expectations for Fed rate cuts later this year. As a result, gold prices rose by $18.2 during the session.
✅Today’s primary focus shifts to the U.S. Non-Farm Payroll (NFP) report. Market expectations are as follows:
🔹New jobs added: 110,000 (previous: 139,000)
🔹Unemployment rate: Expected to rise to 4.3%
🔹Average hourly earnings: Also closely watched for inflation implications
If the actual data falls significantly short of expectations, especially if job growth is below 100,000 or the unemployment rate exceeds 4.3%, this would likely reinforce rate cut expectations, driving gold to break above key resistance levels and extend its rally.
Conversely, if the data beats expectations, the market may scale back its rate-cut bets, supporting the U.S. dollar and putting downward pressure on gold prices. In this case, a pullback in gold should not be ruled out.
✅ Technical Analysis:
🔴Key Resistance Levels: 3358 is the major short-term resistance. A firm breakout and hold above this level could open the path toward the psychological barrier at 3400.
🟢Key Support Levels: 3320 serves as a critical short-term support. If it breaks, gold may test the $3300 level next, with further downside support at $3246.
✅ Trading Strategy Suggestions:
🔸 Aggressive Strategy (Pre-NFP Participation):
🔰If gold pulls back to the $3340–3345 range during the European session, consider small long positions. and look for targets at $3360–3380. If the NFP data is bullish for gold, there’s potential for a move toward $3400.
🔸 Conservative Strategy (Post-NFP Reaction):
Wait for the NFP data to be released and trade based on the market's immediate reaction:
🔰If gold breaks above $3358, consider buying the breakout, targeting $3400.
🔰If gold drops below $3320, short-term downside targets are $3300 and possibly lower.
✅ Key Factors to Watch in the NFP Report:
🟠Whether job creation is significantly below expectations (e.g., <100k)
🟠Whether the unemployment rate exceeds 4.3%
🟠The pace of wage growth and its impact on inflation expectations
✅If the data disappoints across the board, gold may extend the strength seen after the ADP report, breaking through $3370 and testing $3400. However, if the data comes in stronger than expected, be prepared for a potential pullback to $3300 or even lower.
🔥If your recent trading results haven’t been ideal, feel free to reach out. I’d be happy to help you avoid common pitfalls and improve your performance. I will provide real-time strategy updates during market hours based on price action — stay tuned🤝
The U.S. ADP employment data released on Wednesday came in significantly below expectations, with only -33,000 new jobs added, far short of the market forecast of 100,000. This raised concerns about a potential slowdown in the U.S. labor market and strengthened expectations for Fed rate cuts later this year. As a result, gold prices rose by $18.2 during the session.
✅Today’s primary focus shifts to the U.S. Non-Farm Payroll (NFP) report. Market expectations are as follows:
🔹New jobs added: 110,000 (previous: 139,000)
🔹Unemployment rate: Expected to rise to 4.3%
🔹Average hourly earnings: Also closely watched for inflation implications
If the actual data falls significantly short of expectations, especially if job growth is below 100,000 or the unemployment rate exceeds 4.3%, this would likely reinforce rate cut expectations, driving gold to break above key resistance levels and extend its rally.
Conversely, if the data beats expectations, the market may scale back its rate-cut bets, supporting the U.S. dollar and putting downward pressure on gold prices. In this case, a pullback in gold should not be ruled out.
✅ Technical Analysis:
🔴Key Resistance Levels: 3358 is the major short-term resistance. A firm breakout and hold above this level could open the path toward the psychological barrier at 3400.
🟢Key Support Levels: 3320 serves as a critical short-term support. If it breaks, gold may test the $3300 level next, with further downside support at $3246.
✅ Trading Strategy Suggestions:
🔸 Aggressive Strategy (Pre-NFP Participation):
🔰If gold pulls back to the $3340–3345 range during the European session, consider small long positions. and look for targets at $3360–3380. If the NFP data is bullish for gold, there’s potential for a move toward $3400.
🔸 Conservative Strategy (Post-NFP Reaction):
Wait for the NFP data to be released and trade based on the market's immediate reaction:
🔰If gold breaks above $3358, consider buying the breakout, targeting $3400.
🔰If gold drops below $3320, short-term downside targets are $3300 and possibly lower.
✅ Key Factors to Watch in the NFP Report:
🟠Whether job creation is significantly below expectations (e.g., <100k)
🟠Whether the unemployment rate exceeds 4.3%
🟠The pace of wage growth and its impact on inflation expectations
✅If the data disappoints across the board, gold may extend the strength seen after the ADP report, breaking through $3370 and testing $3400. However, if the data comes in stronger than expected, be prepared for a potential pullback to $3300 or even lower.
🔥If your recent trading results haven’t been ideal, feel free to reach out. I’d be happy to help you avoid common pitfalls and improve your performance. I will provide real-time strategy updates during market hours based on price action — stay tuned🤝
✅𝐃𝐚𝐢𝐥𝐲 𝟐-𝟒 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐒𝐢𝐠𝐧𝐚𝐥𝐬🔥
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+RQhjYR-k6i4yOTA1
✉️VIP Channel : t.me/Jack_blackwell
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+RQhjYR-k6i4yOTA1
✉️VIP Channel : t.me/Jack_blackwell
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.
✅𝐃𝐚𝐢𝐥𝐲 𝟐-𝟒 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐒𝐢𝐠𝐧𝐚𝐥𝐬🔥
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+RQhjYR-k6i4yOTA1
✉️VIP Channel : t.me/Jack_blackwell
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+RQhjYR-k6i4yOTA1
✉️VIP Channel : t.me/Jack_blackwell
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.