Gold prices jump ahead of initial jobless claims
1 min readMay 7, 2020
While investors are waiting for the initial jobless claims data later, Gold prices rose 0.4% during the London session. On the daily chart, Gold (XAUUSD) has tested the support level near 1680 to prepare for up swing to higher levels at 1750 or higher.
On H1 timeframe, a test and bounce from the demand zone formed by the big spread demand bar as highlighted can form a long entry for a swing trade to the upside, as shown in the video below:
