XAUUSD: Before CPI is announced, buy if 2500 does not break
Updated
From the hourly chart, we can see that the 0.5 Fibonacci retracement is 2507, and the swing level of 2500-2505 has now formed a breakout pattern, so this range has now turned into support. Now as long as it can break through 2507, the gold price is likely to form a high again and try to touch the 2530 line.
So far this week, the volatility is not large. The market seems to be waiting for tomorrow's CPI data. Before the release of CPI, there is almost no data that can affect the trend of gold. Therefore, I think before CPI, the support below is solid.
The key is to look at the 2500 integer mark. As long as it is not broken, I will be bullish before CPI.
So far this week, the volatility is not large. The market seems to be waiting for tomorrow's CPI data. Before the release of CPI, there is almost no data that can affect the trend of gold. Therefore, I think before CPI, the support below is solid.
The key is to look at the 2500 integer mark. As long as it is not broken, I will be bullish before CPI.
Trade active
Today's market volatility is indeed very small, and there are no important data releases or official speeches today. If nothing unexpected happens, before the CPI data is released, it is likely to run at such a slow pace, so there are not many trading opportunities, and everyone needs to maintain a certain degree of patience.Trade active
After a brief rebound, the gold price fell again to around 2,500. Aggressive investors can enter now.Trade active
The bullish strategy just now near 2500 is very correct. I have already made a profit here.Trade active
Gold has started to rise in stages and is now between resistance and support. The range is 2500-2520. I just bought near 2500 and closed the position at 2510. For the time being, I will not chase the rise. I will consider trading according to the actual situation when it reaches the support or resistance.Trade active
It is definitely not advisable for gold prices to continue to rise today, but you can wait for the resistance of 2520. If it cannot break through, you can consider selling at 2520. If the market just closes at the current price today, don't trade, and wait until tomorrow to make a new trading plan.Trade active
Yesterday I said to buy if 2500 is not broken, which is very correct in direction. Now the gold price has reached the high of 2529 again.
Today's CPI will be the focus of market attention. Whether it will set a new high or fall again depends on the published data. Please pay close attention.
I will give today's analysis strategy for your reference later.
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