Gold Looks for Trend, Eyes on NFP 7/3/2025

Yesterday, gold experienced a bearish trend, approaching the previously identified support at 2886 and recording a low of 2891.

Technical Outlook

• Chart Patterns:
  • On the 4-hour timeframe, an ascending technical formation resembling an inverted head and shoulders is visible.
  • The simple moving averages continue to support the daily upward trend, even as the Stochastic indicator has started showing negative signals.
• Conflicting Signals & Scenarios:
  • Bullish Scenario:
    • For the upward trend to continue, gold needs to stabilize above 2894 and break through 2926.
    • If this happens, the first target would be 2930, with further gains possible up to 2945.
  • Bearish Scenario:
    • Conversely, if gold falls below 2894, it may retest lower levels around 2875 and 2868 before attempting another rise.

Risk & Disclaimers

• Economic Data Impact:
  • Today, high-impact US economic data (including non-farm payrolls, unemployment rates, and average wages) is expected, which may result in significant volatility.
• General Market Risk:
  • Ongoing trade tensions and market uncertainties mean all scenarios remain possible.
• CFD Trading Warning:
  • Trading on CFDs involves significant risks. The analysis provided is for illustrative purposes only and should not be construed as a recommendation to buy or sell.

Disclaimer: Trading in CFDs involves risks, and all scenarios are possible. This analysis is not investment advice but rather an interpretation of the current technical landscape for gold.

S1: 2894.00	R1: 2930.00
S2: 2875.00	R2: 2945.00
S3: 2859.00	R3:  2965.00