Gold supported prior to NFP
|Gold made a small breakout yesterday, but it is supported prior to the NFP. We might see a move up before the NFP.
The main even the Nonfarm Payrolls will determine the move in gold. However, we might expect a small move to the upside prior to the news. After the NFP, we could see the following scenarios:
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Move up from the 1799 zone towards 1812 and if it breaks 1830.
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1830 holds and we have a sell trade there.
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1830 breaks and 1855 is next.
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1795 breaks and the price goes lower to 1786.
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1786 breaks and 1765 is retested.
Watch for the full NPF report and trade GOLD.
The analysis has been done with the CAMMACD.Core System.
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