Latest gold price range: 3230-3270
Important news:
The non-farm payrolls data released on Friday was strong: the next rate cut by the Fed may have to wait until July at least.
If the employment data is strong again in the future, the timing of the rate cut may be further delayed.
After the release of the non-farm data last night, the gold price fell as expected, but then quickly bottomed out and rebounded, continuing to fluctuate.
At present, the gold price is under pressure at the 3270 line and has fallen back, so the area near 3270 will still be the key turning point for gold bulls and bears next week.
If the gold price is under pressure at 3270 next week and does not break, it will fluctuate at most, and the gold bulls will not reverse directly and easily for the time being.
From the 4-hour chart analysis, the non-farm market has basically ended, and the upper side continues to pay attention to the suppression of the 3270 line, with a focus on 3300.
From a technical point of view, the gold daily line shows a bottoming rebound trend, and the price forms a short-term support in the 3230 line area.
Upper pressure: 3270-3300
Lower support: 3220-3230
Operation strategy:
1. It is recommended to short gold near 3260-3270 next week, stop loss 3270, target: 3240-3230-3220.
2. Long gold near 3220-3230, stop loss 3210, target: 3240-3260. If it breaks through, continue to hold;
Important news:
The non-farm payrolls data released on Friday was strong: the next rate cut by the Fed may have to wait until July at least.
If the employment data is strong again in the future, the timing of the rate cut may be further delayed.
After the release of the non-farm data last night, the gold price fell as expected, but then quickly bottomed out and rebounded, continuing to fluctuate.
At present, the gold price is under pressure at the 3270 line and has fallen back, so the area near 3270 will still be the key turning point for gold bulls and bears next week.
If the gold price is under pressure at 3270 next week and does not break, it will fluctuate at most, and the gold bulls will not reverse directly and easily for the time being.
From the 4-hour chart analysis, the non-farm market has basically ended, and the upper side continues to pay attention to the suppression of the 3270 line, with a focus on 3300.
From a technical point of view, the gold daily line shows a bottoming rebound trend, and the price forms a short-term support in the 3230 line area.
Upper pressure: 3270-3300
Lower support: 3220-3230
Operation strategy:
1. It is recommended to short gold near 3260-3270 next week, stop loss 3270, target: 3240-3230-3220.
2. Long gold near 3220-3230, stop loss 3210, target: 3240-3260. If it breaks through, continue to hold;
Free signal: t.me/+o41UC5o15H8zNTcx
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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.
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.