Gold price that has dropped up to around $1156, can be seen as closed in bearish correction. Many wished for positive results from US economic data, but Nonfarm Payrolls at 223k proved to be a bit disappointing.

Dear Traders,

Gold price that has dropped up to around $1156, can be seen as closed in bearish correction. Many wished for positive results from US economic data, but Nonfarm Payrolls at 223k proved to be a bit disappointing. Still, gold failed to respond positively. Meanwhile, it was reported from Greece that although PM Alexis Tsipras said willing to accept bailout requirements, uncertainties remain while the market awaits the result of referendum in July 5th.

 

Technical Analysis

In the following H1 chart, we can see several possibilities where Elliott Wave may help you in making trading decision today.

 

Gold

 

Have a good trading!