I have chosen to be a bear on gold

Gold prices moved lower on Tuesday as the U.S. 10-year yield recaptured the 2.51% level, and is poised to move higher ahead of Friday’s payroll report.  What appears to be priced into the interest rate market is a hike, unless there is a disaster. What is not priced in is a number that is much larger than expected.  Expectations are for a 210K payroll and a 300k+ would see gold prices break through support.LINK

XAUUSD DAILY

Gold has been falling since the end of February and the bears are still pushing the price down . The downward momentum will still continue if the expectations on the USD fundamental come out positive.

Source: 8-3-2017

XAUUSD H4

The markets still looking good for the bears and as the ADP Nonfarm Employment change(feb) news coming out tomorrow , the bears will continue the momentum pushing the price to the January low price of around 1195.70 . Although the stochastic is at oversold , the expectations of a positive result on the USD might push the stochastic even further down.

Source: 8-3-2017

XAUUSD H1

Currently the price is sitting at WS1 support and the 21 and 55 EMAs still have a great speed between them and very bearish . One can pull the trigger at the pullback to WS1 or off the 21 EMA heading down.

Source: 8-3-2017

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