Gold price forecast: XAUUSD plunges below 1700$ after upbeat US NFP, Next CPI.
· The gold price tumbled below 1700$ figure, in the aftermath of the US jobs report
· US Nonfarm payrolls exceeded estimates at 263k, further Fed hikes coming
· US treasury yields pushed to the upside, staying above 3.8%
In the meantime, money markets futures have...
#BTCUSDT Daily chart
we might see bitcoin reaching 13-14k levels before the next FED meeting at the end of this month.
However If it did manage to close above 23k levels we will wait for Bitcoin to form a head and shoulders pattern in the upcoming weeks.
Gold is forming an identical triangle on the 30min chart and getting closer to a monthly support levels at 1680's levels, waiting for a confirmation (breaking 1697 Levels or breaking 1720's levels) !