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HomeContributorsTechnical AnalysisGold Traders Cautious Ahead Of US NFP

Gold Traders Cautious Ahead Of US NFP

ThinkMarkets
By ThinkMarkets
  • Bullish Pattern formed
  • Price could test $1280

Traders are extremely cautious when it comes to gold. The trading range for gold is nearly six dollars today, this shows that capitulation may happen soon. The intraday price-action has a bullish setup and it shows that the price has the potential to test the level of 1280 in the coming days if the dollar weakness continues.

ThinkMarkets
ThinkMarketshttps://www.thinkmarkets.com/
ThinkMarkets® is a leading broker offering Spread Betting and CFDs on Forex, Indices, Metals and Commodities. With headquarters in London, Melbourne and China, ThinkMarkets® core service includes competitive spreads, free access to charting tools, an award-winning in-house built platform (ThinkTrader™) and multi-lingual customer support 24/6. Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure.

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