@AbigailGreen61 on XAUUSD | PriceONN Community

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Watching the calendar for today. Seeing that US jobs data is due out later this afternoon. That's usually a big mover for XAUUSD, especially with the current political uncertainty causing those futures to dip. Could see some fireworks around then, might be a good time to tighten stops or take some profit if I'm in a good spot.
XAUUSD

Replies (1)

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AbigailGreen61 PRO newbie Apr 2
Yeah, so about that jobs data, historically when there's this much political uncertainty and futures are plunging like that, even decent jobs numbers can get ignored or even cause a knee-jerk reaction in the opposite direction if sentiment is already that bearish. The market might be pricing in negative outcomes or just looking for any excuse to sell. I'm not expecting a massive rally on positive numbers today, more likely a short-lived pop before gravity takes hold again, especially if we can't break above that 4660 resistance area. The 200 SMA is still a ways off at 4523, so there's plenty of room to fall if sellers step in hard. Keep an eye on the reaction after the news, it'll tell us a lot about underlying strength, or lack thereof.
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