GOLD 01/09 : Important strategies the weekend, Nonfarm trend

Forecasting and strategy GOLD :

Gold price portrays the routine consolidation ahead of the United States Nonfarm Payrolls (NFP) while easing to 1,940$ amid the early hours of Friday, after reversing from the highest level in a month the previous day.

In the near term, and according to the 4-hour chart, the risk skews to the downside. Technical indicators aim firmly lower, although still above their midlines. At the same time, the 20 SMA is crossing above the 200 SMA in the 1,926$ price zone, reinforcing the next Fibonacci support at 1,933.30.

Support levels: 1,933.30 1,921.80 1,907.30

Resistance levels: 1,944.85 1,955.80 1,972.40

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NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest

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⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order

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The signal for NF today will be selling in the region 1954 - 1956

SL : 1961

TP 1 : 1951
TP 2 : 1946
TP 3 : 1942