Gold Prices Steady Ahead of US Data
Gold prices held steady in the $2647 area entering the European trading session today.
Traders currently appear reluctant and prefer to wait for further cues on the Federal Reserve's (Fed) interest rate cut signal before positioning themselves for the next move in directional movement. Therefore, the focus remains on this week's important US macro releases, including the closely watched Nonfarm Payrolls (NFP) report on Friday.
RECOMMENDATION
- Buy if price moves at least to $2652
- Sell if price moves at least around $2642
Resistance Level 2: $2659
Resistance Level 1: $2652
Support Level 1: $2642
Support Level 2: $2635
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Observe developments in fundamental and technical aspects in transactions before making investment decisions.
Source: newsmaker.id