Yesterday, affected by the extension of the 50% tariff imposed by Trump on the European Union, gold lost its momentum to rise again. Coupled with the US holiday, the market performed mediocrely and maintained a volatile trend.
Today, gold continued to fall at the opening and broke the trend line support. The price came to the key 3300 integer mark.
From the news point of view, the market has been disgusted with Trump's fickleness. With the increasingly serious fiscal crisis and debt crisis, the global market's confidence in US assets is also gradually falling. The continued weakening of the US dollar index can explain everything.
Yesterday I said that the tariff issue is not over yet. Except for the United States and the United Kingdom, other countries have not reached a complete agreement. This may trigger the next round of trade crisis. Risk aversion will not drop too much because of Trump's remarks.
In the big direction, I am still bullish on gold. In the short term, as long as it does not fall below the key support area of 3300-3290, gold will rise again.
Therefore, for today's trading strategy, we will focus on the 3300-3290 area and buy if it does not fall below it. As long as the trend remains unchanged, any pullback is just an adjustment and an opportunity to intervene again.
Today, gold continued to fall at the opening and broke the trend line support. The price came to the key 3300 integer mark.
From the news point of view, the market has been disgusted with Trump's fickleness. With the increasingly serious fiscal crisis and debt crisis, the global market's confidence in US assets is also gradually falling. The continued weakening of the US dollar index can explain everything.
Yesterday I said that the tariff issue is not over yet. Except for the United States and the United Kingdom, other countries have not reached a complete agreement. This may trigger the next round of trade crisis. Risk aversion will not drop too much because of Trump's remarks.
In the big direction, I am still bullish on gold. In the short term, as long as it does not fall below the key support area of 3300-3290, gold will rise again.
Therefore, for today's trading strategy, we will focus on the 3300-3290 area and buy if it does not fall below it. As long as the trend remains unchanged, any pullback is just an adjustment and an opportunity to intervene again.
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👊Join the free Telegram group:
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🏆Contact me to copy trading:
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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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.