FX.co ★ Analysis of Gold for February 01,.2021 - Watch for selling opportunities due to overextend condiiton wit the target at 1.831

Eurozone December unemployment rate 8.3% vs 8.3% expected

• Prior 8.3%

No change to the jobless rate in the Eurozone but as mentioned last month , just be aware that the data here is rather obscured by the furlough programs across the region as well as the "outdated" ILO definition of unemployment.

Further Development

Analyzing the current trading chart of Gold, I found that there is potentia for the drop on the Gold due to overbought condiiton and strong pivot supply at the level at $1,873

Key Levels:

Resistance: $1,873

Support levels: $1,831 and $1,803