XAUUSD is heading for resistance after a false breakdown of 2895. The market continues to test 2926 with the aim to break this zone. There is news ahead and the risks of increased volatility are growing.Markets remain jittery over Trump's tariff plans, which supported gold demand. Trade tensions and mixed U.S. jobs data are adding to inflation risks, which could weaken the dollar. All eyes are on the NFP report.
Based on the analysis of the last few reports, a rough conclusion is that on average in the first 15 minutes, weak data led gold to rise 60 points and strong data led gold to fall 50 points
However, other factors such as inflation and data revisions may dampen the market reaction. The final effect depends on investors' assessment of the Fed's future policy.
Resistance levels: 2926, 2942
Support levels: 2912.5, 2909.5, 2895
Before the news, the price may test 2926 with a false breakout (MM trap for liquidity) and roll back to the nearest support.
But further prospects depend on the news. Gold is in consolidation 2926 - 2895. On the background of possible weak data gold may overcome 2926 and accelerate to ATH. Strong data may provoke profit taking and correction to 2895 - 2875
Regards R. Linda!
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🌹TRADING is a CASINO💔!?
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