Gold forms a 2048-2019 range. There is a possibility that before the release of NFP data, the price may reduce volatility and stand in a narrow range
TA on the high timeframe: 1) NFP is expected to be positive for gold, hence the price of the metal could get stronger all the way to 2080-2100 2) The trend is ascending. 3) On the daily chart there is a false-break-down of the level of 2048, which forms a correction towards support
TA on the low timeframe: 1) Retest of the rising support line, if the line breaks, the gold could continue a correction to 2030, then to 2020 2) Since the price is in a range, this set-up scenario implies a retest of the lower boundary. 3) After a retest of one of the strong supports and the publication of the NFP, the price may rise. Targets 2048, 2067, 2075, 2080 and 2100.
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