Vea también
07.03.2025 02:57 PM
Early in the American session, gold is trading around 2,921 with a bullish bias and consolidating above 6/8 Murray at 2,890 since early March.
Markets are awaiting the employment data to be published in the United States in the next few hours. NFP data are commonly accompanied by strong volatility. So, gold could reach the support zone that coincides with the bottom of the bullish trend channel around $2,910.
In case gold finds good support and consolidates above 21 SMA (2,913), it will be seen as an opportunity to buy with the first target at 2,929 (7/8 Murray). The price could even reach 2,953 (historical high) and finally, 8/8 Murray located at 2,968.
On the other hand, if the US data is positive, it could affect the strength of gold. If so, we could expect a sharp drop below 2,910. The metal could reach 6/8 Murray at 2,890 and even the 200 EMA located at 2,860.
Our trading plan for the next few hours is to wait for the data to be released and, based on this, make a decision. In case gold drops below 2,913 (21 SMA), it will be seen as a clear signal to sell.
You have already liked this post today
*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
