XAUUSD – Gold Price Trend Before Non Farm Payrolls

<h3>XAUUSD, H4</h3>
<p>Lately, gold price has responded with lower economic numbers, because the recent economic numbers reflect the impact of the outbreak of Covid-19, and gold prices have already responded to the role of safe haven. However, last night, gold prices returned to meet with economic numbers again. The expected number of US unemployed last week was 3 million, resulting in gold prices moving up slightly before the announcement. When the number announced was 3.169 million, higher than expected, gold prices moved up to test the resistance zone at <strong>1722</strong>.</p>
<p>The number of unemployment claims came out higher than expected, resulting in yesterday’s USDIndex closing below <strong>100.00</strong>.</p>
<p>As for the technical perspective, in the H4 time frame from the rise of gold prices last night Until it can break through the trend line upwards (dotted line) upwards, resulting in the price frame being seen again. The first resistance is at <strong>1722</strong>, which should be strong enough to cap the price in the Asian and European sessions but may not to be strong enough for the US market. The non-farm payroll numbers will be announced later with a forecast of up to -22 million. If the price goes up, there is a chance to see a test of the high zone at <strong>1736</strong>, in line with the rising MACD trend which has been in positive territory since yesterday.</p>
<p>But if the result is the opposite, today’s first support will be at <strong>1710</strong>, which, if breached, there is a chance to see the price move down to the lower boundary of the <strong>1695</strong> channel.</p>
<p><strong>Click </strong><a href="https://www.hotforex.com/en/trading-tools/economic-calendar.html"><strong>here</strong></a><strong>  to </strong><strong>see the economic calendar.</strong><strong> </strong></p>
<p><strong>Chayut Vachirathanakit<br />
Market Analyst – HF Educational Office – Thailand</strong></p>
<p><strong>Disclaimer: </strong>This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.</p>
<p>&nbsp;</p>