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A stronger-than-expected non-farm payrolls report dampened expectations for a near-term interest rate cut by the Federal Reserve, and gold prices remained under pressure.
The U.S. dollar remains moderately supported, while weak risk sentiment keeps gold prices in a cautious defensive phase.
The U.S. dollar remains moderately supported, while weak risk sentiment keeps gold prices in a cautious defensive phase.
📊 Technical Overview (H1–M30)
Price continues to reject the descending trendline and the 4,054-4,078 supply area.
The structure of the lower highs remains intact → downside momentum remains dominant.
Liquidity numbers are at 4,013, especially 3,989, which is a major bearish magnet.
Any bounce towards 4,054 is likely to be just a retest before continuing the decline.
🎯Daily MMF Plan
Basic Bias: Sell – Follow the Trend
4,054–4,078 sold
Level: 4,090
Target price: 4,013 → 3,989 → 3,975
Buy against the trend (only when liquidity is sufficient):
Purchase 3,985–3,990
Rating: 3,972
Target price: 4,013 → 4,054
⚡️MMF view
As long as price remains below the trendline and in a lower highs structure, gold remains in a distribution phase.
The 3.99x liquidity area is likely to be swept away before any meaningful reversal occurs.
