As expected, trade tensions continue to stimulate the demand for gold. The price of gold per ounce has just set a new record of $3,340. The US dollar is still under pressure from trade frictions, which have begun to have a real impact on American companies and have intensified domestic concerns about an economic recession in the United States. Trump's frequent changes in tariff announcements have eroded investors' confidence in US policies and reduced their confidence in the US economy.
On the daily chart, starting from the low point of $2,536.68, the price of gold has formed a sustained upward trend. Currently, the price is around $3,300, significantly higher than all major moving averages, indicating that the long-term bullish momentum remains strong. The golden cross pattern of the MACD indicator on the daily chart continues to develop, suggesting that the long-term trend momentum is still upward. The daily RSI reading is 73.45, which has entered the overbought area. It is worth noting that the price recently broke through the resistance level of $3,230.00 and then continued to rise, which further verifies the situation where the bulls are in control.
In the short-term 4-hour cycle, as the price is strongly rising unidirectionally, pay attention to the support of the 5-day moving average. We can continue to be bullish as long as the price stays above $3,310. Judging from the 1-hour chart, the price of gold has maintained a strong upward momentum and is currently around $3,340.
XAUUSD
buy@3310-3330
tp:3340-3360
Investment itself doesn't carry risks; it's only when investment is out of control that risks arise. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.
On the daily chart, starting from the low point of $2,536.68, the price of gold has formed a sustained upward trend. Currently, the price is around $3,300, significantly higher than all major moving averages, indicating that the long-term bullish momentum remains strong. The golden cross pattern of the MACD indicator on the daily chart continues to develop, suggesting that the long-term trend momentum is still upward. The daily RSI reading is 73.45, which has entered the overbought area. It is worth noting that the price recently broke through the resistance level of $3,230.00 and then continued to rise, which further verifies the situation where the bulls are in control.
In the short-term 4-hour cycle, as the price is strongly rising unidirectionally, pay attention to the support of the 5-day moving average. We can continue to be bullish as long as the price stays above $3,310. Judging from the 1-hour chart, the price of gold has maintained a strong upward momentum and is currently around $3,340.
XAUUSD
buy@3310-3330
tp:3340-3360
Investment itself doesn't carry risks; it's only when investment is out of control that risks arise. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.
Trade active
For the current wide-range volatile market, it is recommended to adopt a strategy of selling high and buying low: when the price rebounds to the resistance level of the 3313 - 3321 range, one can consider placing short positions; use the low point of 3284 during the US trading session as the stop-loss defense line. If the price pulls back to an appropriate level, one can seize the opportunity to buy at a low price.
We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+IFqHodtrHds0MDk0
t.me/+IFqHodtrHds0MDk0
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.
We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+IFqHodtrHds0MDk0
t.me/+IFqHodtrHds0MDk0
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.