The GOLD has made a move above the channel on H1 timeframe. We should see a continuation above point 2 of 1-2-3 pattern.
A bounce above 1556.60 should make the price go higher towards 1575 and 1585 zone. However, we need to see a momentum to the upside and it will also depend on the NFP result today. Worse than expected result should send the GOLD higher. Whatever the case might be with the NFP a break of 1556 will be bullish and only the NFP could mess up with the GOLD bulls on Friday.
The analysis has been done with the CAMMACD.Core System.
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The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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