ArmanShabanTrading

XAU/USD : First Sell , Then BUY ! NFP's effect on price ! (READ)

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
By analyzing the #Gold chart on the 2-hour timeframe, we can see that the price finally filled its old FVG and entered the $2386 supply zone, followed by a sharp decline. The price corrected over 500 pips down to $2332! Note that this significant drop in gold created a large FVG. If today's actual NFP rate is announced to be lower than the predicted rate, it will weaken the dollar index and cause gold to rise, which in turn could fill this new FVG. Therefore, after an initial drop, we can expect a price increase.

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Best Regards , Arman Shaban
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