XAUUSD Analysis
Gold has corrected following the release of the US Non-Farm Payrolls (NFP) data. The report showed an increase in job numbers exceeding expectations, while the unemployment rate slightly declined. This data reduced expectations for a 50 basis point interest rate cut by the Federal Reserve next month.
Symmetrical Triangle Potential
A symmetrical triangle pattern seems to be forming on the H1 time frame. The price is currently approaching the lower line of this potential pattern.
Prediction: STRONG XAUUSD
Trade Plan:
- BUY AREA: 2646.12 – 2637.70
- Stop Loss (SL): 2621.65
- Take Profit 1 (TP1): 2662.58
- Take Profit 2 (TP2): 2682.45
- Take Profit 3 (TP3): 2702.49