GOLD-Trading strategy analysis
Updated
The gold market focuses on data: the number of initial jobless claims in the United States in the week to January 20, the initial value of the annualized quarterly rate of real GDP in the fourth quarter of the United States, the initial value of the quarterly rate of real personal consumption expenditures in the fourth quarter of the United States, the initial value of the annualized quarterly rate of real GDP in the fourth quarter of the United States, The initial value of the annualized quarterly rate of the core PCE price index, and the annualized total number of new home sales in the United States in December.
Yesterday I emphasized that gold is choosing a direction. Yesterday's data was not conducive to gold. However, gold did not form a unilateral decline, but only expanded the range of shocks.
The volatility of gold is very small now, and today's data release will still affect the trend of gold. Although it is in a downward trend, we cannot blindly follow it. We can wait for the appropriate resistance and support to sell or buy.
Xsuusd:sell2021-2025
TP:2015-2011
SL:2028
During a downtrend, we do not trade buy orders for the time being.
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