GOLD 2024/02/02

The price executed my recent idea flawlessly.

It reached the specified target level and experienced a rebound from it. XAUUSD has now reached a critical resistance level. This price action provides insights into how the upcoming Non-Farm Payrolls (NFP) report 📰 might unfold. Consequently, I anticipate a potential entry point at the resistance level and near the upper boundary.

If the price rejects this zone, forming a rejection candle resembling a long-tailed candle, we may consider selling in the market. The price has rebounded several times before from the resistance zone around 2070.

My objective is the support level around 2042.500.