GOLD → NFP could break resistance

1 Sep 2023

XAUUSD is forming a consolidation after breaking the resistance of the wedge. On D1, the price is stopping near a strong level and preparing for something-o

Consolidation above the previously broken line forms a potential, it can be either a break of resistance and formation of further momentum, or a false break of a strong level and further fall.
Now everything depends on Unemployment and NFP, the data will be published soon.
On the chart we see the formation of a symmetrical triangle, in this case it means a strong accumulation before a breakout to one side or the other.

Support levels: 1942
Resistance levels: 1947
I expect a strong reaction on the background of the approaching news. A breakout of the figure boundaries will give us a strong reaction in the market.

Regards R. Linda!