Keeping my Selling order / #1,670.80 within #2 sessions

Gold's general outlook: Even though the Price-action broke the Lower Low trendline, it failed to test the #1,691.80 - #1,687.80 first Support zone throughout last week and June #2020 Low (former Resistance), so Technically, Gold is is still near Lower Low extension, but still I see no signs of a Bullish comeback/recovery. If #1,688.80 breaks, then the Hourly 1 variance of #1,670.80 should be tested, in case of Bearish sequence below, Price-action will be calling for #1,643.80 final line of the downtrend and as discussed, possible stabilization zone. However, previous Hourly 4 Support of #1,700.80 was broken firmly and all points out to a new bigger proportion decline, as Gold is also Technically in a decline fired up with apparent Death Cross on Daily chart which confirms the downtrend. Gold remains relatively High under the circumstances and best thing to do at the moment is to keep my Selling order engaged last week. Anything outside this range is led by macroeconomic forces that are difficult to handle with such uncertainty. Since Fundamentals proven being stronger Trend-changer and distorted Technical Trends strongly many times before, I took my chances and will expect Selling sequence within #2 sessions.


Fundamental analysis: Gold was testing the Hourly 4 chart #1,688.80 point last week which is currently posing as an Support, in identical fashion with the January #17 fractal which is seemingly reproducing. A break below it, suggests Bearish bias towards first #1,670.80 and then #1,644.80, while a rejection should re-test the #1,710.80 again (as it was the case on today's Asian opening). DX is still on parabolic uptrend, that’s why Selling pressure on Gold is visible, and Bond notes found the Support and are ready to pursue the Resistance. As a result, I have no other alternative than to keep operating with Selling order I am Trading on. NFP had positive reading which will drag Investors to spike up DX so they can secure decent entry near market closing, and in general / both Technically and Fundamentally I should be seeing #1,670.80 next. However, if I have to take a pick what will occur on today’s session, I’d say side Swings / Volatility and later on closing below #1,700.80.


Technical analysis: Monday's market opening didn’t offered any conclusions as to the Short-term direction as Gold (Xau-Use on my commentary) continues to be Bearish on all charts and especially Hourly 4 chart with the bottom seen near #1,644.80 as an re-Buy entry, and upper values of Lower Low extension (around #1,670.80) should represent my Target. I kept my Selling order over the weekend as I am confident that Gold will touch the #1,670.80 variance within #2 sessions. Investors may be waiting for today’s U.S. session opening Bell to see how the market will digest Stimulus news and NFP usual Volatility, and the statistic I have is that when the reported number is unchanged or greater than the forecast, Gold is Bearish with a #84.27% probability on a #2 session horizon. I will trust my model/statistic and keep my Selling order. I assume that Bond notes will rebound a little throughout today's and tomorrow's session from the current levels and that should give me a Price-action decline around #1,670.80.


My position: I am currently operating with my Selling order which has #1,670.80 as an Target and my main point of interest, and will add more Selling orders if #1,670.80 breaks / calling for #1,655.80 Lower Low extension.