Friday Gold Recommendations
Fundamental Analysis:
Current gold prices are supported by the Fed's expectations of rate cuts and geopolitical hedging needs.
Weak US economic data has strengthened market bets on a June rate cut, while escalating tensions in the Middle East (such as the conflict in Yemen and Gaza) and uncertainty in trade policy have further boosted risk aversion.
Although technical indicators show that there is a need for short-term adjustments, the overall upward trend has not changed.
Key Technical Levels:
Support: 3021 (recent adjustment low), 3005 (support conversion level after last week's high breakout).
Pressure: 3047 (intraday high), 3057 (historical high).
Operational Strategy:
Bull Opportunities: If the gold price stabilizes near 3022, you can buy with a light position, target 3047, and stop loss below 3015.
Short Opportunities: If the rebound is blocked near 3047, you can short, target 3022, and stop loss above 3053.
Breakthrough follow-up strategy
Breakthrough 3057: If the price effectively breaks through the historical high, you can chase long, the target is 3070-3080 area, and the stop loss is 3050.
Breakthrough 3005: If it falls below the key support, the short-term trend will weaken. After rebounding to 3005, you can consider shorting, the target is 2980, and the stop loss is 3010.
Risk warning:
Pay attention to the US PMI data and the speeches of Fed officials. If hawkish signals are released, it may suppress the expectation of interest rate cuts.
If the situation in the Middle East eases suddenly, it may lead to a cooling of risk aversion and trigger a correction in gold prices.
Fundamental Analysis:
Current gold prices are supported by the Fed's expectations of rate cuts and geopolitical hedging needs.
Weak US economic data has strengthened market bets on a June rate cut, while escalating tensions in the Middle East (such as the conflict in Yemen and Gaza) and uncertainty in trade policy have further boosted risk aversion.
Although technical indicators show that there is a need for short-term adjustments, the overall upward trend has not changed.
Key Technical Levels:
Support: 3021 (recent adjustment low), 3005 (support conversion level after last week's high breakout).
Pressure: 3047 (intraday high), 3057 (historical high).
Operational Strategy:
Bull Opportunities: If the gold price stabilizes near 3022, you can buy with a light position, target 3047, and stop loss below 3015.
Short Opportunities: If the rebound is blocked near 3047, you can short, target 3022, and stop loss above 3053.
Breakthrough follow-up strategy
Breakthrough 3057: If the price effectively breaks through the historical high, you can chase long, the target is 3070-3080 area, and the stop loss is 3050.
Breakthrough 3005: If it falls below the key support, the short-term trend will weaken. After rebounding to 3005, you can consider shorting, the target is 2980, and the stop loss is 3010.
Risk warning:
Pay attention to the US PMI data and the speeches of Fed officials. If hawkish signals are released, it may suppress the expectation of interest rate cuts.
If the situation in the Middle East eases suddenly, it may lead to a cooling of risk aversion and trigger a correction in gold prices.
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Enjoy life, enjoy trading
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.
Telegram: t.me/+IVt6eHrHm84wYWE5
Enjoy life, enjoy trading
Enjoy life, enjoy trading
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.