Important resistance and support areas before and after Nonfarm
Important resistance: 1929-1931, 1945-1947
Important support: 1912-1910, 1902-1900
Fundamental analysis:
Since the most recent monetary policy meeting, the US Federal Reserve's (Fed) strong policy stance that interest rates will stay "higher for longer" continues to damage gold as prices hold. near the lowest level since March.
Yesterday, Gold had a time falling out of the 1815-1830 price range to around the lowest level of 1812 before coming back up. The reason is because unemployment benefits and the real trade balance are both tending to improve.
Gold price today is likely to continue to move sideways while waiting for the US Department of Labor's September employment report to be announced at 7:30pm.
The private sector jobs report released on Wednesday showed that the US labor market continues to show signs of cooling, causing many people to expect to see another disappointing report from the Department of Labor. America.
A weakening US economy would actually be a good thing for markets, as it would likely temper the rise in bond yields.
Technical analysis:
Structurally, prices are still moving in the rage of 1815-1830.
In the past 2 days, we have had the first signs of the "fats" entering the market - evidenced by the fact that the price has scanned the buying/selling force on both sides of the price range.
Based on vol + phase of current price. There is a scenario that the drop to around 1812 yesterday was actually ST - secondary test and not Sow - a sign of weakening buyers.
However, there are still no signs showing any strong signs from the current buying side.
Need to wait for further signals to have scenarios for gold in this period.
We will continue to trade scap in the 1815-1830 price range until the 7:30pm news release.
Important support: 1912-1910, 1902-1900
Fundamental analysis:
Since the most recent monetary policy meeting, the US Federal Reserve's (Fed) strong policy stance that interest rates will stay "higher for longer" continues to damage gold as prices hold. near the lowest level since March.
Yesterday, Gold had a time falling out of the 1815-1830 price range to around the lowest level of 1812 before coming back up. The reason is because unemployment benefits and the real trade balance are both tending to improve.
Gold price today is likely to continue to move sideways while waiting for the US Department of Labor's September employment report to be announced at 7:30pm.
The private sector jobs report released on Wednesday showed that the US labor market continues to show signs of cooling, causing many people to expect to see another disappointing report from the Department of Labor. America.
A weakening US economy would actually be a good thing for markets, as it would likely temper the rise in bond yields.
Technical analysis:
Structurally, prices are still moving in the rage of 1815-1830.
In the past 2 days, we have had the first signs of the "fats" entering the market - evidenced by the fact that the price has scanned the buying/selling force on both sides of the price range.
Based on vol + phase of current price. There is a scenario that the drop to around 1812 yesterday was actually ST - secondary test and not Sow - a sign of weakening buyers.
However, there are still no signs showing any strong signs from the current buying side.
Need to wait for further signals to have scenarios for gold in this period.
We will continue to trade scap in the 1815-1830 price range until the 7:30pm news release.
Dagangan ditutup: sasaran tercapai:
active Plan BUY + 230 pips
Komen:
Gold price turned north and rose to the $1,830 area. The benchmark 10-year US Treasury bond yield retreated below 4.8% after rising toward 4.9% with the immediate reaction to the US September jobs report and provided a boost to XAU/USD.
Komen:
have a nice weekend
Komen:
If the upward force is strong enough, gold can reach the 1847 resistance zone
Komen:
The second resistance zone has become the next support zone for gold prices
