Gold's shine returns but the NFP remains key
After a couple of tests of $2,320, gold’s upward momentum has resumed to some degree. The strong resistance of the latest high around $2,450 is quite far away, so there’s some potential for more gains depending on the actual data for the NFP.
A clear break above $2,450 might be challenging but could be achieved if upcoming releases are negative for the dollar. The obvious stretch target in the longer term remains the 161.8% weekly Fibonacci extension around $2,575, reaching there would take some time even if there’s a quick break above the near-term resistance.
This is my personal opinion which does not reflect the opinion of Exness. This is not a recommendation to trade.
A clear break above $2,450 might be challenging but could be achieved if upcoming releases are negative for the dollar. The obvious stretch target in the longer term remains the 161.8% weekly Fibonacci extension around $2,575, reaching there would take some time even if there’s a quick break above the near-term resistance.
This is my personal opinion which does not reflect the opinion of Exness. This is not a recommendation to trade.
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.
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.