Open Account

TODAY XAUUSD SIGNAL : Gold Price Forecast XAUUSD juggles around $1,710 as investors await US NFP

TODAY XAUUSD SIGNAL

TODAY XAUUSD SIGNAL : Gold Price Forecast XAUUSD juggles around $1,710 as investors await US NFP

  • Gold prices are oscillating in a $4 range ahead of the US NFP data.
  • The extent of the US NFP data will guide the further direction of gold prices.
  • The DXY is trading lackluster despite soaring hawkish Fed bets.

TODAY XAUUSD SIGNAL : Gold price XAU/USD is displaying topsy-turvy moves in a narrow range of $1,709.35-1,713.42 in the early European session. The precious metal is displaying a lackluster performance as the focus has shifted to the US Nonfarm Payrolls (NFP) data. At the press time, the yellow metal is attempting to deliver an upside break, however, the yields are defending the signs of the upside momentum loss, which could cap gains in gold prices. The 10-year US Treasury yields have recaptured the hurdle of 3.83%.

The mega event of the US NFP will prove a decisive direction ahead. As per the consensus, the US economy added 250k jobs in September. Wednesday’s release of the US Automatic Data Processing (ADP) Employment data reported an increment in payrolls by 208k. This indicates that the US NFP could release lower than projections. Apart from that, the Unemployment Rate is seen constant at 3.7%.

Meanwhile, the US dollar index (DXY) is continuously failing to sustain above the critical hurdle of 112.20 despite soaring hawkish bets for a fourth consecutive 75 basis points (bps) rate hike by the Federal Reserve (Fed). As per CME Fedwatch tool, chances of a 75 bps rate hike announced have soared above 73%.

Gold technical analysis

TODAY XAUUSD SIGNAL : On a four-hour scale, the gold prices are oscillating around the 50% Fibonacci retracement (placed from an August 10 high at $1,807.93 to September low at $1,614.85) at $1,711.60. The precious metal has corrected to near the 20-period Exponential Moving Average (EMA) at around $1,709.00 after sensing barricades around $1,730.00.

The Relative Strength Index (RSI) (14) has slipped into the 40.00-60.00 range from the bullish range of 60.00-80.00, which signals a loss in the upside momentum.

Confuse Which Broker is best ? , Here you can find the best regulated broker

Categories
Recent Posts

FIRST CAPITALS brand is authorized and regulated in various jurisdictions.
First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 187/15, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 47710. The company is also registered with the Financial Conduct Authority of the UK with FRN 713478 and Register number 06331319
First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority of the UK with FRN 713478 and Register number 06331319
International Capital First Strategy (www.First Capitals.com/uk) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012265.
Card transactions are processed via International Capital First Startegy Technical ACADEMY Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via International Capital First Startegy Technical ACADEMY Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower,75 Westow hill , Crystal Palce,London, SE191TX .
International Capital First Startegy Technical ACADEMY Ltd is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.
Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence. Please read FIRST CAPITALS’s full Risk Disclosure.
Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs

© 2011 – 2021 FIRST CAPITALS 

Facebook-f Twitter Linkedin Instagram Youtube Telegram-plane
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms

FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

Exinity Limited (www.First Capitals.com/uk) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via Exinity Services Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus.

Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs.

© 2011 – 2021 FIRST CAPITALS