📊The current gold market maintains a strong trend, mainly driven by the following factors:
🌐Geopolitical risks: The escalation of the conflict in the Middle East, the second round of airstrikes by the US military against the Houthi armed forces in Yemen, and the continued escalation of the Russian-Ukrainian conflict, especially the Russian military's attack on the port of Odessa, have led to the reconstruction of the global food supply chain and pushed up the geopolitical risk premium of gold.
🌐Federal Reserve Policy: The market has different views on the extent of the Fed's future interest rate cuts, and the expectation of a downward trend in real interest rates provides core support for gold.
🌐Global central bank demand for gold: The increase in the net gold purchases of global central banks has increased the demand for gold allocation and further supported the high volatility of gold prices.
These factors work together to keep the gold price strong and there has been no sharp correction.
📊Technical analysis:
✅Daily chart: The gold daily line closed with a negative line, a small negative line formed after three consecutive days of rise, and the overall pattern is still bullish. However, if the gold price fails to break through the new high of 3245 on Tuesday or Wednesday this week, there may be adjustments. Especially after the daily line closed with a negative line, if the top pattern is confirmed, the market may face a sharp pullback in the future.
Therefore, although the current gold price is in a bullish trend, we need to be alert to possible adjustments and pay close attention to the changes in the daily cycle.
✅4-H chart: Gold fell back above the middle track of the Bollinger Band yesterday, with a small retracement, and is still in a strong correction stage overall. In the short term, gold prices are expected to continue to rely on the middle track support and break through the resistance levels near 3238 and 3245.
✅The current decline has not broken the middle track support, indicating that it may continue to rise in the short term. If the low point of 3210 in the early trading today is not broken, the gold price may continue to rise. If the European session continues the upward momentum, the US session may usher in a second rise.
🟢Upper resistance level: 3245-3250 range. If it breaks through this range, you need to pay attention to market changes, especially the trend on Wednesday and Thursday.
🔴Lower support level: 3200-3210 range. If the support is effective, gold may continue to rise. 3210 is the key watershed today. Once it falls below this level, it may turn into a shock consolidation trend.
✅Intraday trading strategy
🔰Gold Sell: 3245-3248, Stop Loss: 5-8$
Target: 3230-3220, if it breaks, look to 3210
🔰Gold Buy: 3213-3215, Stop Loss: 5-8$
Target: 3230-3240, if it breaks, look to 3250
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
XAUUSD
🌐Geopolitical risks: The escalation of the conflict in the Middle East, the second round of airstrikes by the US military against the Houthi armed forces in Yemen, and the continued escalation of the Russian-Ukrainian conflict, especially the Russian military's attack on the port of Odessa, have led to the reconstruction of the global food supply chain and pushed up the geopolitical risk premium of gold.
🌐Federal Reserve Policy: The market has different views on the extent of the Fed's future interest rate cuts, and the expectation of a downward trend in real interest rates provides core support for gold.
🌐Global central bank demand for gold: The increase in the net gold purchases of global central banks has increased the demand for gold allocation and further supported the high volatility of gold prices.
These factors work together to keep the gold price strong and there has been no sharp correction.
📊Technical analysis:
✅Daily chart: The gold daily line closed with a negative line, a small negative line formed after three consecutive days of rise, and the overall pattern is still bullish. However, if the gold price fails to break through the new high of 3245 on Tuesday or Wednesday this week, there may be adjustments. Especially after the daily line closed with a negative line, if the top pattern is confirmed, the market may face a sharp pullback in the future.
Therefore, although the current gold price is in a bullish trend, we need to be alert to possible adjustments and pay close attention to the changes in the daily cycle.
✅4-H chart: Gold fell back above the middle track of the Bollinger Band yesterday, with a small retracement, and is still in a strong correction stage overall. In the short term, gold prices are expected to continue to rely on the middle track support and break through the resistance levels near 3238 and 3245.
✅The current decline has not broken the middle track support, indicating that it may continue to rise in the short term. If the low point of 3210 in the early trading today is not broken, the gold price may continue to rise. If the European session continues the upward momentum, the US session may usher in a second rise.
🟢Upper resistance level: 3245-3250 range. If it breaks through this range, you need to pay attention to market changes, especially the trend on Wednesday and Thursday.
🔴Lower support level: 3200-3210 range. If the support is effective, gold may continue to rise. 3210 is the key watershed today. Once it falls below this level, it may turn into a shock consolidation trend.
✅Intraday trading strategy
🔰Gold Sell: 3245-3248, Stop Loss: 5-8$
Target: 3230-3220, if it breaks, look to 3210
🔰Gold Buy: 3213-3215, Stop Loss: 5-8$
Target: 3230-3240, if it breaks, look to 3250
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
XAUUSD 
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
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.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
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.