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TheTradingPulse
Oct 7, 2022 7:07 AM

XAUUSD Daily NFP Day  

GoldOANDA

Description

XAUUSD Daily NFP day. We posted earlier that if XAUUSD managed to have a daily close above 1735 we could the market giving way for the bulls to climb higher. So far the market has been ranging within the bullish candle that was printed on 4 October with a high of 1729.741 and a low of 1695. Will the bears manage to hold the fort and defend September's high of 1735? If the price is not breach we will see XAUUSD continue its bearish moment. For NFP, we would need to see a strong 4H close below 1700.628 for us to be in a bearish bias. If the price rejects 1670.882 we would have a bullish bias. NFP is usually a very volatile evening, do use a separate trading account if you are trading NFP today.
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