Will Xau/USD become the highest new levels after the NFP report?

summary:
• Gold price approaches $ 2900 before the NFP report. Will Xau/USD reach new levels or decline? The main levels and market drivers are Infocus.

Rally Gold continues before the main US job data

Gold prices were on rupture, as Xau/USD rose to $ 2869, approaching the decisive psychological level of $ 2900. The metal has gained strength amid the constant uncertainty in the market, and now all the eyes are in the salary report in the United States Non -Farm (NFP), which was released at 4 pm.

The powerful job report can enhance US dollar (USD) and cabinet revenues, which leads to pressure on gold. On the contrary, the more expected data may feed another gathering, which may send gold to new levels at all.

Technical analysis: The main gold prices levels for watching

Support and resistance areas

• Immediate resistance: $ 2900 – the lounge above the door can open to 2950 dollars and beyond.
• Main support levels: $ 2,791, $ 286, and $ 2,633 – if these levels may work as strong purchase areas.
• The next main resistance: $ 3000-a psychological level that can lead to profits.

Momentum indicators

• MACD: The bullish momentum is still intact, with the MACD line at 9.95, above the signal line.
• RSI: Currently in 74.88, indicating that gold is close to the peak area. You can withdraw if buyers get profits.
• Size: a height of 184 kg+, which reflects the interest of the strong market in gold before NFP.

Why does gold gather? Main market drivers

1. American economic data concentration – Markets expect a NFP report, which will affect the expectations of the Federal Reserve.
2. Geopolitical uncertainty-the safe demand for gold is still strong amid continuous global tensions.
3. The weaker dollar scenario – if NFP misses expectations, it may weaken the US dollar, pushing gold up.
4. Inflation and interest speculation – Investors closely monitor how the Federal Reserve responds to job data in the next average decision.

NFP scenarios: What can happen to gold?

• If NFP is weaker than expected:
  • It may weaken the US dollar, pushing gold over $ 2900, and may test $ 2950-3,000 dollars.
  • Prices reduction expectations can increase, making gold more attractive.
• If NFP is stronger than expected:
  • It strengthens the US dollar, which leads to pressure on gold, which may lead to a decrease in about $ 2,791-2,686 dollars.
  • Treasury revenues can rise, which leads to the conversion of the investor into bonds on unsuccessful gold.

Conclusion: Can gold break $ 2900 after NFP?

Gold Bullish is strong, but today’s NFP report will be the real test. If the job data disappoints, I expect about 3000 dollars. However, the strongest labor market can lead to a short -term sale pressure.

For traders, watching the level of $ 2900 is very important – the collapse can indicate up, while rejection can lead to a healthy correction before the resumption of gold towards the ascension.

Will gold reach its highest levels or retreat after NFP? Stay tuned – Today data will set the tone!