7.4 Non-farm payrolls exploded, and expectations for the Fed’s rOn Thursday, as the strong US employment data dispelled the market's expectations of the Fed's recent rate cut, the US dollar index rose sharply before the US market, returned to above the 97 mark, and once rose to an intraday high of 97.42.
Spot gold fell sharply, once falling to $3311 during the session, a drop of more than $50 from the intraday high, and then recovered some of its losses and remained near 3330 for consolidation.
The current upper suppression position of the daily line is almost here at 3350, and the lower support is located at 3320-25.
So if it is maintained in the range of consolidation, it is likely to be rectified at 3320-50.
Secondly, from the hourly chart:
It can be seen from the trend of 3247 to 3365.
The Fibonacci 618 position is exactly here at 3320.
Although the lowest point last night was pierced to around 3311, it can be seen that the entity still closed above 3320.
As long as 3320 cannot be broken, the best case scenario is to maintain it at 3320-50 for consolidation. If not, once 3350 is broken, the high point of 3365 will definitely not be able to be maintained.
Therefore, for today's operation, try to maintain the high-selling and low-buying range of 3320-50.
