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Today’s gold price analysis and guidance
Yesterday, Jerome Powell testified before Congress that he expects to start cutting interest rates this year if inflation approaches the central bank's 2% target, paving the way for a fall in the dollar and a rise in gold.
Today, the price of gold broke through 2163, and the support level is 2154.6. It is currently oscillating at $2156.5. Based on the news observation, gold will show a volatile upward trend in the short term during the day.
have to be aware of is!
If today's non-agricultural data is released, the value is too high or too low, which will greatly affect the gold price trend. Before that, I referred to the performance of ADP data, and based on the fact that the two are more than 80% in the same direction. The probability that today's non-agricultural data will be positive for gold is very high. At the same time, combined with the impact of the US dollar interest rate cut, the US dollar has a weak trend of rising. I am more certain of the possibility of the market going up.
Combined with the current trend of gold prices, it is predicted that gold prices will show a slight upward trend in the short term;
Recommendation: Buy around $2156
TP:2165
SL:2150
Seek victory in a stable manner, follow the signals, and do not make rash advances.
Today’s gold price analysis and guidance
Yesterday, Jerome Powell testified before Congress that he expects to start cutting interest rates this year if inflation approaches the central bank's 2% target, paving the way for a fall in the dollar and a rise in gold.
Today, the price of gold broke through 2163, and the support level is 2154.6. It is currently oscillating at $2156.5. Based on the news observation, gold will show a volatile upward trend in the short term during the day.
have to be aware of is!
If today's non-agricultural data is released, the value is too high or too low, which will greatly affect the gold price trend. Before that, I referred to the performance of ADP data, and based on the fact that the two are more than 80% in the same direction. The probability that today's non-agricultural data will be positive for gold is very high. At the same time, combined with the impact of the US dollar interest rate cut, the US dollar has a weak trend of rising. I am more certain of the possibility of the market going up.
Combined with the current trend of gold prices, it is predicted that gold prices will show a slight upward trend in the short term;
Recommendation: Buy around $2156
TP:2165
SL:2150
Seek victory in a stable manner, follow the signals, and do not make rash advances.
Note
Gold price breaks through $2,166, rising stronglyNote
Gold broke through 2171 US dollars and then fell back to 2168.9 US dollars. At this time, the rise was blocked and it was temporarily unable to break through 2072 US dollars. I will always observe the gold price, buy and sell, and wait for my signal.Trade active
Note
The price of gold fluctuates at US$2,167 and is currently relatively stable. I will continue to update it when the non-agricultural data is released.Note
Non-agricultural data was released, the unemployment rate rose to 3.9%, and gold prices rose stronglyNote
Gold prices continue to rise and have exceeded $2,193
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.