🔥 XAU/USD - NFP's effect on the GOLD price (READ THE CAPTION)

Well, as you can see, yesterday, gold was able to grow up to $2051, and after that, the price dropped again, and it is currently trading in the range of $2038! We have to see whether the NFP statistics will be announced today more than expected or less! If the actual rate is announced higher than the forecast, we will see a heavy fall in gold, and otherwise, gold will move to higher targets again! My first scenario is that gold will see lower targets like $2031 and $2020 in the short term! Be careful of extreme market movements and minimize your risk!

Please share your opinion about the possible trend of this chart with me and support us with your likes and comments.

Best Regards , Arman Shaban

Comment:

Some of You Asked me about NFP and its effect on the market , in Total :

- Non-Farm Payrolls (NFP) is a monthly report that measures the number of jobs added or lost in the U.S. economy, excluding some categories.

- NFP affects the forex market by influencing the demand and supply of the U.S. dollar, which is the most traded currency in the world.

- NFP also affects the gold price by influencing the expectations of inflation and interest rates in the U.S.

- NFP can cause volatility and risks for traders, depending on how the actual numbers compare to the market expectations and how the market participants react to the news.

Trade closed: target reached:

Gold is falling heavily! As I expected, the actual rate of NFP was announced higher than expected and caused gold to fall heavily! Gold is currently trading in the range of $2025! I hope you have used it! +150 Pips so far ! ✅

Comment:

Important Update : Well, by re-examining the gold chart, we can see that the price fell sharply after the announcement of the NFP statistics and It was able to drop to $2024 to collect more liquidity, and after that it was again accompanied by demand pressure, and this pushed gold back up to $2045! Now, if the price stabilizes above $2043.53, we will probably see gold grow to $2056 as the next bullish target!!

Comment:

The Price Reached $2056 First and hit the target , after that i saw $2064 too and then started to fall from the same range ! Let’s see what would be happening in the next week ! This was enough for this week ! Thank you for all your support ! Cheers !