TradingView
BullBearMkt
Apr 3, 2021 10:20 AM

Will The Surprised NFP Job Reports Drag Gold's Price Down? Long

GoldOANDA

Description

Positive data came from NFP for the month of March. While Economists forecast a rise by 647,000, instead it jumped 916,000. Not only that, the unemployment rate also dropped to 6%. These report alone should drag gold down while the dollar index suppose to rally up. However, gold ended bullish.

Looking ahead, gold temporally has bottom-out at 1675 and likely to make short rally up towards 1800. Gold still have a long way to go above 1800 as price most likely will re-test the low 1700 (or below)


N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades

Comments
bilyb237
I thought the NFP data would have an immediate impact? why didn't it?
BullBearMkt
@bilyb237, Market "manipulations"
bilyb237
@BullBearMkt,

Ok , so theyre intentionally bulking the price up to then sell it at a high price right?
BullBearMkt
@bilyb237, work of market makers...
More