XAUUSD NFP Analysis

Gold is a safe haven. As gold increases, bonds and stocks decline. Analytic dave will provide an analysis of XAUUSD pre-NFP. In the situation Gold goes up, EURJPY Analysis and GBPJPY Analysis will tumble down.

XAUUSD Support

Support 1: 1751

Support 2: 1730

Support 3: 1683

XAUUD Resistance

Resistance 1: 1811

Resistance 2: 1830

Resistance 3: 1850

XAUUSD 15 Minutes Chart

Technically, Gold has the potential to drop from its current 1795. 090 as per the stamped analysis time to the lowest 1771.195. However, this is not assured as the bullish wave is much stronger. Also, it is important to make it clear that 15 minutes, 45 minutes, 1 hour, and 4-hour charts have bullish flags well-positioned to shoot the yellow metal to the skies.  However, the main question is? How far will Gold go during NFP?

According to Analytic Dave technical and fundamental preview, Gold will shoot to the area over 1820. Now, another question is, how should I trade Gold. Today is a BUY LIMIT playground. In my case, I have placed a BUY LIMIT between 1787 and 1784 with a take profit in the area between 1809 and 1820. Does my setup prove that Gold will shoot to the moon during NFP?

Analytic Dave XAUUSD Analysis Bias: Bullish