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Against the backdrop of Friday's NFP we can say that things are still not very stable and the representatives of the US economic system may still consider a tougher outlook. In this case the dollar index will continue its growth and gold will go down.
Technically, the metal is in the red zone, updating lows and testing resistances from below. The chances that the market will change the trend are not so great. Analysts expect bullish CPI, which will strengthen the dollar. Gold may fall further after a shakeout, within which it may test nearby resistances.
Support levels: 1980, 1975, 1965
Resistance levels: 1984, 1890, 1994
I expect a shakeout on the background of the news, after which the decline may continue with a high probability. The potential is on the side of the bears, their strength prevails at the moment.
Regards R. Linda!
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