Using both 4-hour and 1-day timeframe, XAUUSD is forming lower highs and lower lows for the last couple of days fueled by economic news supporting USD. It’s on the way to retest the support at 1900 ahead of the NFP report tomorrow. But the price action may be altered a little bit due to the economic news that has been released today, which has corned USD.
Initial jobless claim surges to 227k, previously 221k.
Continuing jobless claims rise to 1700k.
BOE hikes interest rates by 25 basis points to 5.25%, previously 5%.
XAUUSD may reverse before it retests 1900 support but the best buy entry for XAUUSD is around 1900.
1 -DAY TIMEFRAME CHART
Screenshot (59)4-HOUR TIMEFRAME
Screenshot (60)
