Pre-NFP Outlook: Data Coming Soon, Gold Market May Experience Volatile Fluctuations

Today’s Non-Farm Payrolls data will be announced shortly, with market focus highly concentrated. The gold market is likely to undergo significant volatility.

Reviewing yesterday’s trend, bearish traders dominated the intraday, with prices gradually declining until support was found near 4408 during the US session. Subsequently, the unemployment data was released, and bulls seized the opportunity to push higher, resuming an upward trend in gold prices. From the chart structure, the previous decline has essentially completed, and new bullish momentum is beginning to emerge. However, it is important to note that before the Non-Farm data is released today, market sentiment remains cautious, and there is a high probability of substantial tug-of-war between bulls and bears in the evening.

On the indicator level, in the 30-minute chart, the MACD fast and slow lines (DIFF and DEA) have formed a death cross above the zero line, and the green momentum bars continue to expand, indicating that the short-term bearish correction is still ongoing. Overall, it is recommended to adopt a low-buying approach and be cautious when chasing orders.

Intraday Trading Strategy (Long Positions):

Look for opportunities around 4450 to enter long positions, with a stop-loss set below 4440, and target levels at 4466 and near 4500.