Gold's shine returns but the NFP remains key
After a couple of tests of $2,320, gold’s upward momentum has resumed to some degree. The strong resistance of the latest high around $2,450 is quite far away, so there’s some potential for more gains depending on the actual data for the NFP.
A clear break above $2,450 might be challenging but could be achieved if upcoming releases are negative for the dollar. The obvious stretch target in the longer term remains the 161.8% weekly Fibonacci extension around $2,575, reaching there would take some time even if there’s a quick break above the near-term resistance.
This is my personal opinion which does not reflect the opinion of Exness. This is not a recommendation to trade.
A clear break above $2,450 might be challenging but could be achieved if upcoming releases are negative for the dollar. The obvious stretch target in the longer term remains the 161.8% weekly Fibonacci extension around $2,575, reaching there would take some time even if there’s a quick break above the near-term resistance.
This is my personal opinion which does not reflect the opinion of Exness. This is not a recommendation to trade.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.