GOLD & NONFARM – BREAKOUT OR CORRECTION?
📌 Market Overview
The global financial markets are closely watching the upcoming U.S. Nonfarm Payrolls (NFP) report on March 7. As one of the most anticipated economic releases of the month, it is expected to trigger significant market volatility.
🔥 Geopolitical Uncertainty & The Impact on Gold & USD (DXY)
US trade policies toward China and other key economies continue to fuel uncertainty, leading to increased demand for gold as a safe haven.
The U.S. Dollar Index (DXY) remains highly volatile, directly influencing gold price movements.
Investors are waiting for Nonfarm data to determine whether gold will break new all-time highs (ATH) or undergo a correction.
⚡ Expected Price Movements
Gold is currently consolidating within a broad range of 2929 - 2892, a level it has held throughout the week. Based on historical Nonfarm Payroll data, today’s price swing is expected to be between 45-50 points, possibly reaching 60 points! This presents a major trading opportunity, with the key being to catch the breakout direction.
📊 Key Support & Resistance Levels – Breakout Watch
🔺 Resistance Levels: 2920 - 2928 - 2943 - 2954
🔻 Support Levels: 2892 - 2884 - 2872 - 2859 - 2838
🚀 Trading Strategy for Today
Gold is still trading within a range-bound structure, with no confirmed breakout yet.
Wait for a breakout confirmation before entering trades.
A market update will be provided before the Nonfarm release to refine the strategy.
🎯 Trading Plan for Today
🟢 BUY ZONE:
Entry: 2874 - 2872
❌ Stop Loss (SL): 2868
🎯 Target (TP): 2878 - 2882 - 2886 - 2890 - 2895 - 2900
🔴 SELL ZONE:
Entry: 2952 - 2954
❌ Stop Loss (SL): 2958
🎯 Target (TP): 2948 - 2944 - 2940 - 2935 - 2930
📌 Key Trading Reminders
💥 Nonfarm data is expected to create high volatility – prepare for sharp moves!
✔ Stick to TP/SL to avoid excessive risk exposure.
✔ Wait for clear breakout confirmation before opening positions.
✔ Manage risk effectively and control emotions – today could be a decisive market moment!
📢 Do you think gold will break to new highs or face a correction? Share your thoughts below! 🚀🔥
The global financial markets are closely watching the upcoming U.S. Nonfarm Payrolls (NFP) report on March 7. As one of the most anticipated economic releases of the month, it is expected to trigger significant market volatility.
🔥 Geopolitical Uncertainty & The Impact on Gold & USD (DXY)
US trade policies toward China and other key economies continue to fuel uncertainty, leading to increased demand for gold as a safe haven.
The U.S. Dollar Index (DXY) remains highly volatile, directly influencing gold price movements.
Investors are waiting for Nonfarm data to determine whether gold will break new all-time highs (ATH) or undergo a correction.
⚡ Expected Price Movements
Gold is currently consolidating within a broad range of 2929 - 2892, a level it has held throughout the week. Based on historical Nonfarm Payroll data, today’s price swing is expected to be between 45-50 points, possibly reaching 60 points! This presents a major trading opportunity, with the key being to catch the breakout direction.
📊 Key Support & Resistance Levels – Breakout Watch
🔺 Resistance Levels: 2920 - 2928 - 2943 - 2954
🔻 Support Levels: 2892 - 2884 - 2872 - 2859 - 2838
🚀 Trading Strategy for Today
Gold is still trading within a range-bound structure, with no confirmed breakout yet.
Wait for a breakout confirmation before entering trades.
A market update will be provided before the Nonfarm release to refine the strategy.
🎯 Trading Plan for Today
🟢 BUY ZONE:
Entry: 2874 - 2872
❌ Stop Loss (SL): 2868
🎯 Target (TP): 2878 - 2882 - 2886 - 2890 - 2895 - 2900
🔴 SELL ZONE:
Entry: 2952 - 2954
❌ Stop Loss (SL): 2958
🎯 Target (TP): 2948 - 2944 - 2940 - 2935 - 2930
📌 Key Trading Reminders
💥 Nonfarm data is expected to create high volatility – prepare for sharp moves!
✔ Stick to TP/SL to avoid excessive risk exposure.
✔ Wait for clear breakout confirmation before opening positions.
✔ Manage risk effectively and control emotions – today could be a decisive market moment!
📢 Do you think gold will break to new highs or face a correction? Share your thoughts below! 🚀🔥
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.