Yesterday was a highly volatile day for gold.
Initially, XAU/USD experienced a drop in support.
However, it quickly reversed its trend and moved upward. After reaching 2460, the price fell sharply back to support levels.
Overnight, another drop to support was met with strong buying power, resulting in a long-tailed pin bar on the hourly chart.
At the time of writing, the price has returned to resistance (2460 zone)
Judging by the price action over the past 24 hours, I believe gold is poised for an upward break. If I'm correct, the measured target is 2490, and we could even see 2500 today if there is a genuine break and the NFP report surprises.
Initially, XAU/USD experienced a drop in support.
However, it quickly reversed its trend and moved upward. After reaching 2460, the price fell sharply back to support levels.
Overnight, another drop to support was met with strong buying power, resulting in a long-tailed pin bar on the hourly chart.
At the time of writing, the price has returned to resistance (2460 zone)
Judging by the price action over the past 24 hours, I believe gold is poised for an upward break. If I'm correct, the measured target is 2490, and we could even see 2500 today if there is a genuine break and the NFP report surprises.
Uwaga
We have the breakNFP could bring continuation
Uwaga
NFP brought a clear break above 2460 resistance.If the day/week closes above this level, a new ATH and 2500 mark comes in play
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