The chart includes a Bullish Shark harmonic pattern with two Take Profit (TP) levels marked:
TP 1: 2,354 TP 2: 2,373 The current price is at 2,333.104 with the Stochastic RSI indicating oversold conditions, suggesting a potential upward movement.
Key points:
The chart shows a significant drop leading to the current price.
The area marked for the potential retracement suggests a bullish reversal.
The upcoming Non-Farm Payroll (NFP) data is expected to trigger a rise in the gold price, aligning with the technical indicators and harmonic pattern on the chart.
Traders should watch for the NFP release as it could provide the necessary momentum for gold to reach the specified take profit levels.
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