Gold Action for today
Bearish Scenario
A sustained move under 1954.80 will indicate the presence of sellers. Taking out 1927.20 will indicate the selling is getting stronger. This could trigger a further break into the main bottom at 1908.40, followed by the main 50% level at 1889.70.
Bullish Scenario
Overtaking 1954.80 will signal the presence of buyers. If this move creates enough upside momentum then look for a potential surge into the short-term 50% level at 1981.70
A sustained move under 1954.80 will indicate the presence of sellers. Taking out 1927.20 will indicate the selling is getting stronger. This could trigger a further break into the main bottom at 1908.40, followed by the main 50% level at 1889.70.
Bullish Scenario
Overtaking 1954.80 will signal the presence of buyers. If this move creates enough upside momentum then look for a potential surge into the short-term 50% level at 1981.70
news has been released regarding the payroll where it says that it is expected to drop to 1.4 million from 1.763 million in July.
Unemployment rate is also set to drop to 9.8% from 10.2%