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FxWirePro: Gold remains supported above $1290, judgemental week as markets await US NFP job data

XAU/USD is currently trading around $1293 mark. It made intraday high at $1296 and low at $1289 levels. Intraday bias remains bullish till the time pair holds immediate support at $1287 marks. A daily close above $1296 w…

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FxWirePro: Gold remains supported above $1290, judgemental week as markets await US NFP job data
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  • XAU/USD is currently trading around $1293 mark.
     
  • It made intraday high at $1296 and low at $1289 levels.

  • Intraday bias remains bullish till the time pair holds immediate support at $1287 marks.
     
  • A daily close above $1296 will take the parity up towards $1307, $1315 and $1327 marks respectively.
     
  • Alternatively, reversal from key resistance $1303 will drag the parity down towards key support levels at $1287, $1282 and $1272 marks respectively.


We prefer to take long position in XAU/USD around $1292, stop loss $1285 and target $1307/$1315 marks.

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