Good morning, traders!
Today is Friday, July 4th, a bank holiday in New York, so expect significantly thin market conditions for Gold (XAU/USD), particularly during the NY session.
On the higher timeframes (4-hour and 30-minute charts), the overall trend remains bullish. The short-lived bearish pressure on the 5-minute timeframe, induced by yesterday’s NFP release, has now been invalidated.
Markets are currently attempting to rebalance around the 3350 level. The true overall market direction will become clearer and more visible once full balance is restored.
Trade with extreme caution today due to low liquidity.