The U.S Dollar was sold off heavily from 103.00 to 102.00 after a worse than expected NFP report. The price action of the U.S Dollar Index is suggesting that the market is expecting the Fed has to change its monetary policy to dovish.
Gold went from 1915 to 1931-1933 on H1 chart bellow and it managed to trade above the 1916-1919 at the end of day last Friday. Gold is expected to trade from 1916 to 1933 and it will make a post-NFP price movement which will set a new gold trend.
The 1916-1919 is the key support zone for gold trend this week July 10 to July 15, 2023. Gold will make a correction to 1956-1958 or 1980-1985 if the US Dollar continue to be sold off to support gold correction
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