Gold Spot / U.S. DollarUpdated Gold prices are under pressure today -- 2710-2720
Gold prices are under pressure today -- 2710-2720
Waiting for "Trump's Inauguration"
Fundamentals:
1: The market is currently looking forward to Trump's inauguration on January 20. His wide-ranging trade tariffs are expected to further ignite inflation and trigger a trade war, which may increase gold's safe-haven appeal.
2: The market has increased its bets on the Fed's 2025 rate cut, which puts some pressure on the dollar before Trump returns to the White House this week.
3: Gold surveys show that industry experts and retail investors are strongly bullish before Trump's second inauguration.
4: Monday is the Martin Luther King Day holiday. CME precious metals and US crude oil futures contracts closed early, and stock index futures contracts closed early.
5: The ceasefire agreement between Israel and Gaza officially took effect on Sunday (January 19), and it is necessary to pay attention to changes in market risk aversion.
Technical aspects:
1: Although the price of gold has been under pressure on the upward trend line since it hit an all-time high in October last year, and there has been a clear retracement adjustment, the bulls still have buying momentum, and finally bottomed out and rebounded to close above the May average line, failing to let the bears gain the upper hand.
2: The trend since January this year has also strengthened again, and it is expected to recover the previous adjustment space. In the future, we need to pay attention to whether it can rebound and recover the correction range, return to the top of $2,750 and further strengthen, and look at $3,000 or higher, and vice versa. Before the shock adjustment turns negative, the risk of continued downside remains.
Strategy: Go long at a low price
B: 2690-2710 (reference buying range)
S: 2690--2675 (defense range)
T: 2720-2750-2790 (target range)
I will still explain the specific signals at the bottom of the article. If you are interested in my analysis, you can leave a message to discuss. I hope to get your feedback
Waiting for "Trump's Inauguration"
Fundamentals:
1: The market is currently looking forward to Trump's inauguration on January 20. His wide-ranging trade tariffs are expected to further ignite inflation and trigger a trade war, which may increase gold's safe-haven appeal.
2: The market has increased its bets on the Fed's 2025 rate cut, which puts some pressure on the dollar before Trump returns to the White House this week.
3: Gold surveys show that industry experts and retail investors are strongly bullish before Trump's second inauguration.
4: Monday is the Martin Luther King Day holiday. CME precious metals and US crude oil futures contracts closed early, and stock index futures contracts closed early.
5: The ceasefire agreement between Israel and Gaza officially took effect on Sunday (January 19), and it is necessary to pay attention to changes in market risk aversion.
Technical aspects:
1: Although the price of gold has been under pressure on the upward trend line since it hit an all-time high in October last year, and there has been a clear retracement adjustment, the bulls still have buying momentum, and finally bottomed out and rebounded to close above the May average line, failing to let the bears gain the upper hand.
2: The trend since January this year has also strengthened again, and it is expected to recover the previous adjustment space. In the future, we need to pay attention to whether it can rebound and recover the correction range, return to the top of $2,750 and further strengthen, and look at $3,000 or higher, and vice versa. Before the shock adjustment turns negative, the risk of continued downside remains.
Strategy: Go long at a low price
B: 2690-2710 (reference buying range)
S: 2690--2675 (defense range)
T: 2720-2750-2790 (target range)
I will still explain the specific signals at the bottom of the article. If you are interested in my analysis, you can leave a message to discuss. I hope to get your feedback
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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.