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Daily chart:

Development of upswing is in progress. Given the release of NFP data today, we can suppose that gold will extend a confident growth toward resistance 1643.31 and later to 1689.36-1702.58.


After completion of current downswing (supposedly at 1600.00) we can expect a start of strong upward movement toward the targets marked on a daily chart. Thus the tactics is long trades from 1600.00 and holding positions toward 1700.00.


So, we expect completion of downward pullback at 1600.00 and then upward start to 1643.31 first and then to 1689.36-1702.58.

Trading recommendations:

Longs from 1600.00 to 1643.31 and 1689.36-1702.58.

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