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SpanishGold Stabilises Above $1,770 mark Ahead of U.S. JOLTS Job Openings Data, $12+ Volatility Likely; Aug 02, 2022
U.S. JOLTS Job Opening Results
Today’s U.S. Session will remain light as U.S. will release only JOLTS Job Openings data at 1400 GMT/1930 IST. It’s released late, but can impact the market because job openings are a leading indicator of overall employment. It is derived via a survey done by the U.S. Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their businesses’ employment, job openings, recruitment, hires and separations. JOLTS defines Job Openings as all positions that are open (not filled) on the last business day of the month. If the ‘Actual’ result is greater than ‘forecasted’, it is good for U.S. dollar.
Let’s see how Gold has reacted during the previous data release:
July 06:
June 01:
Technical View:
XAU/USD (Gold):
- Gold enjoys roller coaster movement and remains well supported above $1,770 mark.
- The pair made intraday high at $1,780 and Low at $1,768 mark.
- A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1,782 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,765 on H1 chart will test further supports.
| SUPPORTS | RESISTANCES |
| $1,765 | $1,782 |
| $1,758 | $1,789 |
| $1,752 | $1,794 |
| $1,747 | $1,799 |
| $1,742 | $1,804 |
Take a look and do trade wisely!
Good Luck
