Friday\u0027s release of the Non-Farm Payroll numbers revealed the addition of 209,000 jobs in the previous month, falling short of the expected 225,000.
A significant breakdown below the 200-Day EMA would be cause for concern, as it would breach a major technical indicator.
However, the 61.8% Fibonacci level provides robust support, contributing to the prevailing noise and support in the market. Considering the historically inverse relationship between the gold market and the US dollar, it is crucial to closely monitor the US Dollar Index. This correlation is likely to persist, contributing to market dynamics.
. However, navigating through the noise and volatility may present challenges. Once a breakout from this range occurs, it is reasonable to expect a more significant price movement.
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