Gold Price is moving in a upward channel. I was expecting the price to break the 1940 level yesterday to complete the bearish Leg for further gains.
Price has penetrated the 1940 level a little deep . But couldn't break it effectively. This is making bullish bias more strong.
On other hand Dollar index - price is moving down the abandoned bullish channel. At the moment price is retesting the channel from the downside and facing the rejection.
I am expecting if the Non farm Payroll announcement comes out negative. The Dollar index can move to 103.00 support and 102.00 support in extension. If Dxy gets there, we can see Gold touching the 1970 and 1980 today or in coming week.
I am by the technical. This is Friday market. It can be un predictable. Remember important levels are 1930 and 1950. where ever it breaks.. we are going long roads in that direction.
Trade Safe, Dream big, Die rich. Good Luck!!
Price has penetrated the 1940 level a little deep . But couldn't break it effectively. This is making bullish bias more strong.
On other hand Dollar index - price is moving down the abandoned bullish channel. At the moment price is retesting the channel from the downside and facing the rejection.
I am expecting if the Non farm Payroll announcement comes out negative. The Dollar index can move to 103.00 support and 102.00 support in extension. If Dxy gets there, we can see Gold touching the 1970 and 1980 today or in coming week.
I am by the technical. This is Friday market. It can be un predictable. Remember important levels are 1930 and 1950. where ever it breaks.. we are going long roads in that direction.
Trade Safe, Dream big, Die rich. Good Luck!!