**********On Friday (February 7th), the European trading session saw a slight increase, with gold trading around $2865. During yesterday's review, it was mentioned that the gold price is currently being priced in a safe haven sentiment, and there is a need for adjustment after continuously breaking historical highs.

At least there is a correction in technical indicators, although the decline is not significant, the overall bullish momentum has slowed down, and coupled with the fact that the US non farm payroll data has not yet landed, the short-term waiting for adjustment is mainly a low buying opportunity.

Fundamentally, the market expects the non farm payroll data to be between 170000 and 200000, although lower than the previous value, mainly due to data fluctuations caused by wildfires and a series of new policies in the United States. If it does not exceed 200000, it is expected to boost the Federal Reserve's interest rate cut expectations and continue to support gold prices.

If it exceeds 200000 yuan, it will put pressure on gold prices and boost the strength of the US dollar. Pay attention to changes in market risk aversion sentiment and direction choices after data is released.

From a graphical perspective, the deviation of the daily moving average has further widened, while the MACD indicator has shown weak upward momentum and is mainly waiting for a retracement.

If a dense pressure range is formed near the high point of 2880 in the early stage and cannot be broken through, then wait for a retracement near $2800 to confirm the effectiveness of the support before taking the opportunity to buy low. Be cautious of rising and falling back during the day.

At the 4-hour level, it is still within the bullish range, and there is a possibility of a second golden cross after the MACD indicator adjustment. However, the price has not yet broken through the previous high, so we are still waiting for opportunities to buy low.

Pay attention to whether the closing price remains stable at $2880, in order to open up upward space. The lower moving average supports around $2800 and is waiting for a dip.

This article is original and copyrighted by * * Financial Super Saiyan. The above content is for reference only and is not used as a basis for trading.