The report will help traders trade the NFP on precious metals. Better than consensuses data will bring further bullishness in USD. From Monday we may see bearishness in Dollar.

Market is expecting a better data in NFP as well as unemployment rate. Any deviation on the negative side might bring bearishness in Dollar.

Potential Price Targets for the Release: XAUUSD:

Gold after testing high of 1340 is currently trading at 1282. Before announcement of NFP it has shown bearishness of approx. 30$ in few hours.

Support: 1180, 1272

Resistance: 1330 and 1345


We expect a bounce from first support i.e. 1272 and retracement extended to 1330. Any break of 1272 level will take gold to 1180.

XAGUSD:

Silver after testing high of 20.5 is currently trading at 19.3. Before announcement of NFP it has shown bearishness of approx. 70 cents in last two days.

Support: 18.7, 19.3

Resistance: 20.5


We expect a bounce from first support i.e. 19.3 and retracement extended to 20.5. Any break of this level will take silver to 18.70.

USOIL:

Crude oil after testing high of 108.6 is currently trading at 107.7.Before announcement of NFP it has shown bearishness of approx. 90 cents in few hours.

Support: 104.3

Resistance: 110.0, 108.6


We expect a retracement from first resistance i.e. 108.6 and retracement extended to 104. Any break of 104 level will take Oil to 100.

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