OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD Post NFP. Last week, Gold printed a triple bottom and during NFP day, the price shot up for about 540 pips. It printed a newer high last week compared to the two previous weeks. However the price is still in the range of the bearish candle for the week of 10th October. During the close of NFP day, XAUUSD closed at 1680.935. This is a significant price as it was a low that was broken on 18th of July. This was the last low on the weekly TF that made the last bullish impulse. This low was then broken and served as a resistance since then. Moving down to the Daily and 4H TF, we can see that the bulls are making its way up. We need to see 4H bullish momentum if the daily candle is to close above the weekly high of 1699.902. Without having a daily close of more than 300 pips in range above 1699.902, XAUUSD will still stuck in this current range.
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