Gtag:

Gold Spikes Down Ahead of U.S. JOLTS Job Openings Results, $9+ Volatility Likely; Dec 08, 2021

U.S. JOLTS Job Openings

The only key Ecconomic indicator from the U.S. will be U.S. JOLTS Job openings. It’s released late, but can impact the market because job openings are a leading indicator of overall employment. If the actual data comes greater than forecasted, it is good for U.S. dollar.

Key Headlines To keep in Mind:

  • Pfizer: 3 Vaccine Doses Neutralize Omicron Variant – CNBC.
  • PFIZER: When it comes to neutralising Omicron, a two-dose vaccine is much less effective.
  • Pfizer and Biontech are working on an omicron-specific vaccine that they hope to have available by March 2022.
  • The Sterling weakens drastically on news suggested that the U.K. government is about to reintroduce social distancing restrictions and many more.

Let’s see how Gold has reaccted during the previous data release:

Nov 12:

Oct 12:

Technical View:

XAU/USD (Gold):

  • Gold spikes down sharply in early U.S. session and touches $1,782 mark.
  • Today pair made intraday high at $1,793 and low at $1,782 mark.
  • A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $1,792 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,782 will check further supports.
SUPPORTS RESISTANCES
$1,782 $1,794
$1,776 $1,799
$1,7720 $1,804
$$1,767 $1,809
$1,761 $1,8145

Take a look and do trade wisely!
Good Luck

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