Technically Gold is Sell. I have illustrated possible resistance areas and support.
Why Gold is sell today:
Four reasons:
1. Strong US labor Market data yesterday, Which suggest today NFP may also have strong results. Expecting Dollar strength and XAU and other correspondence currencies down.
2. EURUSD and GBPUSD on a breakout /sell structure. Dxy structure has over 60 percent weightage of these two currencies.
3. Last drop /rejection of 1850 is strong bias of Selling Gold.
4. FOMC minutes has Hawkish stance on interest rates hike in Feb.
I am expecting 1825 and 1808 Today.
Do Comment on the idea and odds
Regards,