Against the backdrop of rising inflation and if the Fed continues to remain neutral, the XAU / USD pair has the potential to resume growth. If the publication today at (12:30 GMT) of June data from the US labor market does not meet expectations and a strong forecast, then we should expect an increase in quotations of gold and the XAU / USD pair (see also "Fundamental Analysis and Recommendations")
In this case, the targets will be the levels of 1916.00, 1963.00, 1976.00 (local highs), 2000.00, and the first signal to resume long positions will be the breakdown of the short-term resistance level of 1782.00 and consolidation in the zone above this mark.
In the alternative scenario, XAU / USD will strengthen the downward dynamics, and the breakdown of the local support level of 1751.00 will become a signal for the development of the scenario for a decrease in XAU / USD.
Trading recommendations
Sell Stop 1770.00. Stop-Loss 1791.00. Take-Profit 1751.00, 1685.00, 1645.00, 1580.00, 1560.00
Buy Stop 1791.00. Stop-Loss 1770.00. Take-Profit 1795.00, 1808.00, 1815.00, 1900.00, 1916.00, 1963.00, 1976.00, 2000.00, 2010.00
*) XAU/USD: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
