Yesterday's ADP data is a leading indicator, so there's a high probability that the non-farm payrolls will also be lower than expected, which will provide support for gold to form a short-term bottom. From a technical perspective, after retracing to the middle Bollinger Band on the 4-hour chart, the price has been slowly rising throughout the day. Significant movements are unlikely before the data release. The upper Bollinger Band resistance is around 4100-15. A break above this level would open up further upside potential, with targets at 4160 and 4200. Support levels on pullbacks are at 4028-25 and 3960-50. The recommended strategy is to buy on dips, and adjust the strategy based on the actual data release after the data release.
Trading suggestion: Buy gold around 4028-25.
Trading suggestion: Buy gold around 4028-25.
Trade attivo
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.