XAUUSD (GOLD) TRADE UPDATE DURING NON-FARM PAYROLLS (NFP) REPORT RELEASE

 Good evening traders, I hope you're all doing well and were eagerly waiting on the US Bureau of Labor Statistics to release the awaited Non-farm Payroll report. Into the gold market analysis update, price gained momentum during London session into the NYSE as it dropped 160 pips to 1707.17, close to the previous H1 low. Price slightly consolidated forming equal H1 highs at 1714.50 followed by a strong drop with high momentum during the NFP news report release yesterday during NYSE. Price dropped 265 pips to 1695.12 having broken the H1 low at 1705.31, retested it and continued with the drop. The NFP report showed that the US employment rate added 263,000 jobs in the previous month from the forecasted 248,000. This caused the dollar index (DXY) to be strongly bullish, rallying to 112.560 hence causing XAUUSD to be weaker, closing the week with price at 1694.50 and I anticipate a continuation of the drop into the coming week.