Gold made a small breakout yesterday, but it is supported prior to the NFP. We might see a move up before the NFP.

The main even the Nonfarm Payrolls will determine the move in gold. However, we might expect a small move to the upside prior to the news. After the NFP, we could see the following scenarios:

  1. Move up from the 1799 zone towards 1812 and if it breaks 1830.
  2. 1830 holds and we have a sell trade there.
  3. 1830 breaks and 1855 is next.
  4. 1795 breaks and the price goes lower to 1786.
  5. 1786 breaks and 1765 is retested.

Watch for the full NPF report and trade GOLD.