NFP focus, GOLD is reaching initial bullish conditions
On Asian markets on Friday (January 10), 
XAUUSD Spot delivery maintains the intraday recovery trend and gold price is currently at about 2,672 USD/ounce, a range of about more than 1 dollar during the day as of the time of writing.
Market participants turned their attention to the US nonfarm payrolls report.
Today (Friday), the United States will release the closely watched non-farm payrolls report, which is expected to cause a big move in the gold market.
Authoritative surveys show nonfarm payrolls in the United States would have increased by 160,000 last December, following a whopping 227,000 increase in November. US unemployment rate expected to fall maintained at 4.2% in December.
The survey found that average hourly wages in the United States are expected to increase 0.3% month-over-month in December, following a 0.4% increase in November. Annual wage growth is likely maintained at 4%.
Better-than-expected US nonfarm payrolls data is seen as positive for the dollar and vice versa. And of course, this greatly impacts the gold price trend.
From a technical perspective,XAUUSD is heading for the 4th consecutive day of increase but the real uptrend has not yet been clearly formed.
However, the daily chart of gold prices has also achieved the initial technical conditions for a possible increase in price with price activity above EMA21, POC Volume Profile and the 0.50% Fibonacci retracement level. Currently, these indicators are becoming the closest support.
An important factor for the uptrend to form is the level of 2,693USD, which is considered a technical confirmation point for a newly formed uptrend. Once it is broken above and gold sustains activity above this level, the next target is around $2,730 in the short term.
The relative strength index RSI has also risen above 50. However, the slope is not large but it is still considered a positive signal for gold prices in the near future.
During the day, gold had initial bullish technical conditions and notable levels are listed below.
Support: 2,664 – 2,645 – 2,634USD
Resistance: 2,693 – 2,700USD
SELL XAUUSD PRICE 2691 - 2689⚡️
↠↠ Stoploss 2695
→Take Profit 1 2684
↨
→Take Profit 2 2679
BUY XAUUSD PRICE 2649 - 2651⚡️
↠↠ Stoploss 2545
→Take Profit 1 2656
↨
→Take Profit 2 2661
XAUUSD Spot delivery maintains the intraday recovery trend and gold price is currently at about 2,672 USD/ounce, a range of about more than 1 dollar during the day as of the time of writing.Market participants turned their attention to the US nonfarm payrolls report.
Today (Friday), the United States will release the closely watched non-farm payrolls report, which is expected to cause a big move in the gold market.
Authoritative surveys show nonfarm payrolls in the United States would have increased by 160,000 last December, following a whopping 227,000 increase in November. US unemployment rate expected to fall maintained at 4.2% in December.
The survey found that average hourly wages in the United States are expected to increase 0.3% month-over-month in December, following a 0.4% increase in November. Annual wage growth is likely maintained at 4%.
Better-than-expected US nonfarm payrolls data is seen as positive for the dollar and vice versa. And of course, this greatly impacts the gold price trend.
From a technical perspective,
XAUUSD is heading for the 4th consecutive day of increase but the real uptrend has not yet been clearly formed.However, the daily chart of gold prices has also achieved the initial technical conditions for a possible increase in price with price activity above EMA21, POC Volume Profile and the 0.50% Fibonacci retracement level. Currently, these indicators are becoming the closest support.
An important factor for the uptrend to form is the level of 2,693USD, which is considered a technical confirmation point for a newly formed uptrend. Once it is broken above and gold sustains activity above this level, the next target is around $2,730 in the short term.
The relative strength index RSI has also risen above 50. However, the slope is not large but it is still considered a positive signal for gold prices in the near future.
During the day, gold had initial bullish technical conditions and notable levels are listed below.
Support: 2,664 – 2,645 – 2,634USD
Resistance: 2,693 – 2,700USD
SELL XAUUSD PRICE 2691 - 2689⚡️
↠↠ Stoploss 2695
→Take Profit 1 2684
↨
→Take Profit 2 2679
BUY XAUUSD PRICE 2649 - 2651⚡️
↠↠ Stoploss 2545
→Take Profit 1 2656
↨
→Take Profit 2 2661
Nota
Spot gold reached 2,680 USD/ounce, up 0.38% on the day.Nota
Gold dropped sharply to 2,680 USD/ozNota
A stronger US employment report late last week led to an increase in the USD and US government bond yields. However, gold still managed to gain ground on Friday and came close to testing the $2,700 mark.Nota
Spot gold stood at 2,670 USD/ounce, up 0.25% on the day.Nota
Gold price increased slightly:
- Spot gold is at 2669.36 USD/ounce, increasing thanks to concerns about President-elect Trump's policies and investors adjusting their positions before US inflation data.
Nota
USD decreased slightly: The strong increase in USD stopped, the market was cautious before US CPI inflation data. The USD fell because the PPI index was lower than expected, pulling US government bond yields down.
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🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
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