XAUUSD Analysis
Market Awaits US NFP Data
Gold prices remain stable ahead of the US non-farm payrolls (NFP) report. Leading up to the NFP release, Wednesday’s ADP report revealed a sharp slowdown in private sector job growth, with December figures dropping to 122,000 from 146,000 in November 2024. However, supporting data such as December jobless claims and November JOLTS Job Openings indicated an improving trend.
Monitor the Accelerating Trendline on H1
The price is currently testing an accelerating trendline visible on the H1 time frame. A sell signal can be confirmed if the accelerating trendline is breached.
Prediction: WEAK XAUUSD
Trade Plan
- SELL AREA: 2665.88 - 2659.58
- STOP LOSS (SL): 2683.26
- TAKE PROFIT (TP):
- TP1: 2645.49
- TP2: 2621.15
- TP3: 2595.06
Always remember to use proper risk management and remain vigilant with any potential volatility from the upcoming US NFP data. Happy trading!