breaking down trend line = bearish trend target 1795-1800
target 1795-1797-1800 (possible before NFP?)
rejection from 1795 possible to hit 1831-1837-1844-1866
NOTE: lower than 1795 need a new analysis (1784-1787 but hit there could change the bullish trend to bearish trend)
NFP on 12:30 today make sure to see the result
last NFP super bearish since the lowest number case on US covid19 June and July creating job number higher than expected and higher than last July
today NFP would see lower result from 943 forecasts 728 mean the data see a lower number overall should leading to bullish gold to 1831 as target
but be aware of forecast vs actual number
above forecast = bearish gold and bullish DXY
under forecast = bullish gold and bearish DXY
rejection from 1795 possible to hit 1831-1837-1844-1866
NOTE: lower than 1795 need a new analysis (1784-1787 but hit there could change the bullish trend to bearish trend)
NFP on 12:30 today make sure to see the result
last NFP super bearish since the lowest number case on US covid19 June and July creating job number higher than expected and higher than last July
today NFP would see lower result from 943 forecasts 728 mean the data see a lower number overall should leading to bullish gold to 1831 as target
but be aware of forecast vs actual number
above forecast = bearish gold and bullish DXY
under forecast = bullish gold and bearish DXY
Comment:
careful with triangle break out
I need one wave down (wave 5 blue line color)
retest 1800-1797 or 1795 before target 1831 and 1844