XAU/USD provides trade opportunities

As we await the publication of the Nonfarm payrolls on the 3rd of March, the technical side of things does not seem to favor the US Dollar. Let's see how the Dollar looks up from the technical side of things.

As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.

A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone.

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