Gold is apparently looking bullish from the daily perspective as it has formed a double bottom and the market has marked a weekly engulfing bullish candle. Now, market is retracing at the level and is continuing moving up. NFP tends to form a downside wick and continue course towards the bullish side. 

The descending trendline is on the verge of being broken out or being retested. We will see the what happens after the trendline has broken out for buys.

As the market is in a tight spot, we do not see a retracement setup in this.

EMA 50 is blanketing the price action at the lower side, meaning its bullish. Market may continue moving up as its the bullish move.

RSI is at 61. We need to see the market at the 50 level to confluence with the support level in order for the market to continue moving up, in confluence with the technical parameters.

Gold buys before NFP

Mar 10 2023