GOLD AWAITS NONFARM DATA ON 07/03 – WILL IT HIT A NEW ATH OR CONTINUE ITS RETRACEMENT?
📌 Market Overview
The global financial markets are on high alert as all eyes turn to the Nonfarm Payrolls (NFP) report – the most anticipated economic data of the month.
🔥 Geopolitical Tensions & Their Impact on Gold & USD (DXY):
US tariff policies against neighboring countries and China continue to fuel uncertainty.
DXY remains highly volatile, directly influencing Gold’s price movements.
Investors worldwide are waiting for NFP results to determine whether Gold will break to new all-time highs (ATH) or undergo another correction.
⚡ Expected Price Volatility:
Currently, Gold is trading sideways within a broad range of 2929 - 2892, holding this structure since the start of the week. Based on previous Nonfarm releases, Gold is expected to move 45 - 50 points today, possibly even 60 points! This presents high-profit potential for traders ready to react to a breakout.
📊 Key Support & Resistance Levels – Watch for the Breakout!
🔺 Key Resistance: 2920 - 2928 - 2943 - 2954
🔻 Key Support: 2892 - 2884 - 2872 - 2859 - 2838
🚀 Today's Game Plan:
Gold is still consolidating sideways, with no clear breakout yet.
Wait for a breakout confirmation, then follow the momentum.
I will update fresh insights right before the Nonfarm release for a more precise strategy.
🎯 Trading Strategy for the Day
🟢 BUY ZONE: 2874 - 2872
❌ SL: 2868
🎯 TP: 2878 - 2882 - 2886 - 2890 - 2895 - 2900
🔴 SELL ZONE: 2952 - 2954
❌ SL: 2958
🎯 TP: 2948 - 2944 - 2940 - 2935 - 2930
📌 Important Reminders
💥 Nonfarm will trigger extreme volatility today – expect strong liquidity grabs!
✔ Stick to TP/SL to protect your capital against unexpected market swings.
✔ Wait for the breakout confirmation before entering trades – avoid FOMO!
✔ Control emotions & manage risk carefully – today’s market could be a game-changer!
📢 Are you ready for today’s market action? Stay updated and execute your trades with precision! 🚀🔥