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Gold- Closure of a Range Week
Market Scenarios:
We have NFP tomorrow, Be careful so much...
FX: XAUUSD
Blue Scenario:
If the market closes higher than 2,625 but under 2,632, we can expect a small bullish move towards the middle of the London session.
After reaching that point, there could be a bearish Friday, with potential to fall at least towards the 2,600 - 2,605 level.
Black Scenario:
If the market closes below the 2,625 support, we will likely move towards the 2,500 channel.
There could be a temporary pause around the 2,580 - 2,575 zone.
Orange Scenario:
If today’s candle closes above 2,632, we can expect a small bearish move toward the 2,612 - 2,617 zone.
After that, there might be a TGIF (a potential weekend reversal or pause).
Conclusion:
Based on current observations, I see high chances for the Blue move, where the market closes higher than 2,625 and stays below 2,632, leading to a small bullish move followed by a bearish Friday.
** This description aligns with the chart provided and the scenarios described for potential market movements.
We have NFP tomorrow, Be careful so much...
FX: XAUUSD
Blue Scenario:
If the market closes higher than 2,625 but under 2,632, we can expect a small bullish move towards the middle of the London session.
After reaching that point, there could be a bearish Friday, with potential to fall at least towards the 2,600 - 2,605 level.
Black Scenario:
If the market closes below the 2,625 support, we will likely move towards the 2,500 channel.
There could be a temporary pause around the 2,580 - 2,575 zone.
Orange Scenario:
If today’s candle closes above 2,632, we can expect a small bearish move toward the 2,612 - 2,617 zone.
After that, there might be a TGIF (a potential weekend reversal or pause).
Conclusion:
Based on current observations, I see high chances for the Blue move, where the market closes higher than 2,625 and stays below 2,632, leading to a small bullish move followed by a bearish Friday.
** This description aligns with the chart provided and the scenarios described for potential market movements.
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