👉This week, international gold prices increased continuously from $1,912.5 to $1,952 and closed at $1,939.
👉The reason why gold prices rose sharply this week was because the US labor market continued to show less positive signals. Specifically, although NFP EMPLOYMENT data in August reached 187,000 jobs, higher than the expected level of 170,000 jobs, but compared to the first months of 2023, there has been a deep downward trend.
👉Notably, the US unemployment rate in August also increased to 3.8% compared to 3.5% in July.
👉From a technical analysis perspective, after a decline of more than 1,000 pips from the 1989 to 1885 range, the gold price has recovered more than 600 pips, reaching the fibonacci mark of 38.2 according to the fibonacci regression. According to Upbo's personal opinion, the range This price is no longer the price range to watch for buying. The specific trading plan for this week Upbo will update you on the channel as soon as possible. Stay tuned to get effective trends, signals and strategies. Wishing you a new week of good health, luck and profits with Upbo.
Stoploss : 1955
Take Profit : 1942
Take Profit : 1935
SL : 1933
TP : 1943
Tp : 1948
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