Gold firms ahead of NFP results

• Since the beginning of the year, Gold is constantly adding strength against US dollar and currently well supported above $1150 levels.
   
• The yellow metal advanced 1.25% on Thursday, hitting the highest level since end of October 2015.
   
• Moreover, global equity markets are also facing downward pressure from low oil prices and China's economic slowdown.
   
• Intraday bias remains bullish as long as major support $1152 holds.
   
• In addition, 10, 25 and 50DMA are also supporting the bullish trend.
   
• On the top side, major resistance levels are seen at $1159, $1168 and $1191 thereafter.
   
• Alternatively, reversal from this level may drag the parity below $1130 handle.
   
• A big event for the day is NFP job result. The US economy is forecast to have added around 189,000 jobs last month, almost half the 292,000 jobs reportedly added in December.

We prefer to take long position in XAU/USD around $1150, stop loss $1139 and target $1191.