Gold Stabilises Above $1,800 mark, Markets eye U.S. JOLTS Job Openings Data, $8+ Volatility Likely; July 07, 2021

U.S. JOLTS (Job Openings and Labor Turnover Survey) Job Openings:

Today’s U.S. session will be important as U.S. will release JOLTS Job Openings at 1400 GMT/1930 IST and thereafter later in the U.S. Session FOMC Meeting Minutes will be there. It’s released late, but can impact the market because job openings are a leading indicator of overall employment. If Actual results are greater than ‘Forecasted’, it is good for currency.

Let’s see how Gold has reacted during the previous data release:
June 08:

May 11:

Technical View:

XAU/USD (Gold):

  • Gold rises gradually on Wednesday and stabilizes above $1,800 mark.
  • The pair made intraday high at $1,808 and low at $1,793 mark.
  • A day chart is bearish trend while H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $1,812 on H1 chart requires for the upside rally.
  • Alternatively, consistent close below $1,794 will check key supports.
$1,789 $1,815
$1,784 $1,819
$1,778 $1,824
$1,772 $1,830
$1,767 $1,834

Take a look and do trade wisely!
Good Luck