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Gold - potential short

Short
OANDA:XAUUSD   Or / Dollar Américain
With the strong NFP print yesterday, Gold moved impulsively from 1270 to 1254.

The later US session finished with a corrective move.

The recent price action on an intraday chart , with lower highs and lower lows, suggests in the near term the market is moving down. The medium term averages 21/55 support this view.

Price momentum has slowed and likely the corrective move will continue early next week, with a move towards the .50- .618 fib of last implulse.

The short trade is looking for the next impulse down to support around 1248-1250.



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