Gold operating range oscillation: 3360-3400
Current market dynamics:
Geopolitical risks subsided, and the Asian market implemented the policy of reducing reserve requirements and interest rates: gold prices fell sharply by $70 to 3360 during the day.
Risk of the Fed's decision: The interest rate decision in the early morning is the core variable.
No interest rate cut or a tough statement may suppress the gold price to 3320-3300;
Unexpected interest rate cuts or dovish signals may push the gold price to rebound above 3430 points.
Key technical points:
4-hour chart:
Resistance level: 3436 points (78.6% Fibonacci retracement level), 3400 points (middle track pressure level).
Support level: 3386 (61.8% Fibonacci), 3350 (50% Fibonacci, key node).
Hourly chart level:
Range oscillation: 3400-3360, double bottom support at 3360 (lower channel rail), breaking through 3400 will open up the upside space.
Operation strategy:
1. Short-term short order:
Entry point: short near 3398, stop loss 3410.
Target: 3383 (initial support level), 3375 (lower edge of hourly line oscillation), final target 3360.
Logic: The market may remain cautious before the Fed's decision. If the 3400 resistance is effective, the technical retracement will be effective.
2. Long layout conditions (need to wait for confirmation):
Hold the 3360 double bottom, and go long with a light position after stabilization. The stop loss is set below 3350, and the target is 3400+.
Logic: If the Fed releases easing signals, technical resonance may trigger buying.
3. Breakthrough follow-up strategy:
Break above 3400: chase long, stop loss 3380, target 3430-3450.
Break below 3350: chase short, stop loss 3370, target 3320-3300.
Summary:
Gold is at a critical node of the game between technical aspects and news aspects.
Short-term recommendation is to focus on high-altitude below 3400, but be wary of unexpected reversals caused by the Federal Reserve.
Prudent people can wait and see for the time being, and intervene after the trend becomes clear after the decision.
If the price fluctuates rapidly, give priority to protecting the principal and avoid carrying orders.
Current market dynamics:
Geopolitical risks subsided, and the Asian market implemented the policy of reducing reserve requirements and interest rates: gold prices fell sharply by $70 to 3360 during the day.
Risk of the Fed's decision: The interest rate decision in the early morning is the core variable.
No interest rate cut or a tough statement may suppress the gold price to 3320-3300;
Unexpected interest rate cuts or dovish signals may push the gold price to rebound above 3430 points.
Key technical points:
4-hour chart:
Resistance level: 3436 points (78.6% Fibonacci retracement level), 3400 points (middle track pressure level).
Support level: 3386 (61.8% Fibonacci), 3350 (50% Fibonacci, key node).
Hourly chart level:
Range oscillation: 3400-3360, double bottom support at 3360 (lower channel rail), breaking through 3400 will open up the upside space.
Operation strategy:
1. Short-term short order:
Entry point: short near 3398, stop loss 3410.
Target: 3383 (initial support level), 3375 (lower edge of hourly line oscillation), final target 3360.
Logic: The market may remain cautious before the Fed's decision. If the 3400 resistance is effective, the technical retracement will be effective.
2. Long layout conditions (need to wait for confirmation):
Hold the 3360 double bottom, and go long with a light position after stabilization. The stop loss is set below 3350, and the target is 3400+.
Logic: If the Fed releases easing signals, technical resonance may trigger buying.
3. Breakthrough follow-up strategy:
Break above 3400: chase long, stop loss 3380, target 3430-3450.
Break below 3350: chase short, stop loss 3370, target 3320-3300.
Summary:
Gold is at a critical node of the game between technical aspects and news aspects.
Short-term recommendation is to focus on high-altitude below 3400, but be wary of unexpected reversals caused by the Federal Reserve.
Prudent people can wait and see for the time being, and intervene after the trend becomes clear after the decision.
If the price fluctuates rapidly, give priority to protecting the principal and avoid carrying orders.
Free signal: t.me/+o41UC5o15H8zNTcx
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Professional trader
love life
enjoy trading
create wealth
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.
Free signal: t.me/+o41UC5o15H8zNTcx
Professional trader
love life
enjoy trading
create wealth
Professional trader
love life
enjoy trading
create wealth
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.