As we await for this influential moment, the markets remain consolidated with very little volatility - which makes sense. With an already weaker dollar, we have seen some conflicting loss in value of XAUUSD. Although i'm tempted to believe it is the result of the optimistic speculation over the pending NFP figures. With an expected 20% rise, will this deflate the value of XAUUSD, or provide concerns over the inflation of the US economy.
All other things being equal, i expect a small tumble in price to the 2022 level before rejecting it and continuing its bullish drive. The first target looks to be 2037, followed by 2050. Perhaps even heading back to that region of 2070 where we can see a strong longstanding bearish OB that coincides with the all time high.
Alternatively, if all is well with NFP news and things go as expected, a downwards crash towards that sell side liquidity @2009.72 with an approximate minimum of 1% fall in value.
All other things being equal, i expect a small tumble in price to the 2022 level before rejecting it and continuing its bullish drive. The first target looks to be 2037, followed by 2050. Perhaps even heading back to that region of 2070 where we can see a strong longstanding bearish OB that coincides with the all time high.
Alternatively, if all is well with NFP news and things go as expected, a downwards crash towards that sell side liquidity @2009.72 with an approximate minimum of 1% fall in value.