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Us small non farm ADP unexpectedly lower than expected in May

2022-06-03
1274
Fundamental analysis:

Gold remained volatile around 1868. The actual ADP employment in the United States in May was 128000, with an expected 300000, compared with the previous value of 247000. ADP employment in the United States increased by 128000 in May, the smallest increase since February 2020.


Gold xauusd - 4-hour K-line diagram display:




Technical comments: the Bull Power reverses strongly and moves upward. After touching the nodes near 1870 of the Bollinger belt index on the track, it starts to sort out. The short-term bull power continues to move upward. The Bollinger belt index continues to open its mouth. The MACD index is located above the 0 axis, and the bull region keeps moving upward. The RSI index is at 50 equilibrium, and the online side keeps rising;


Multi empty turning point: 1865


Pressing position: 1876, 1885


Support position: 1857, 1847


Trading strategy: bullish above 1865, target 1876, 1885


Alternative strategy: down 1865, target 1857, 1847


The above analysis is a personal point of view and is for reference only.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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