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04/12/2020 Gold. Where next?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
We had a sell off but fail on Monday before a strong rally $70 higher. Ranging yesterday. Where are we going to today?

Today is #NFP and recently we have much of a sell on good news. Could today be that reversal day?

Based on my system, lots of support below, 1835.42-36.66 (my blue bias zone) and 1828.26-65. Bias towards the upside, targeting 1848.490, 50.43, 52.587 and 1856.28.

1864.81 is a possible upside target but should cap high of day.

If 1828.26 breaks, targets will be 1815.91 and 1812.27. 1808.07 should cap low of day.

Comments

28 break, so it will continue to 15 and 12?
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The levels are for intra-day trading only. For swing trades, not all levels are applicable.

By the way 28 didn't break. Lowest was 1829 and it bounced. U can play the above and see how the 1850 and 1828 held.

For next week 1835-39 will be the level to watch. Above 39 is bullish, below 35 is bearish.
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