Yesterday, as the Fed's speech pushed up expectations of rate cuts, gold rebounded sharply, reaching 3370, boosted by the decline of the US dollar index and buying.
At present, the gold price has come to the lower support range of 3300-3290, which is still very important. If it breaks, it means that gold will fall further. If it holds, it may rebound, so we need to pay close attention to subsequent trends.
The upper resistance range is 3340-3350. If it cannot break through here, gold will continue to adjust downward.
Trading strategy:
Let’s first look at the support of 3300-3290. If it doesn’t fall below, we will take a short-term long position.
Let’s look at the resistance of 3340-3350. If it cannot break through, go short. The target will continue to be 3300. If it falls below, then look at 3260.
At present, the gold price has come to the lower support range of 3300-3290, which is still very important. If it breaks, it means that gold will fall further. If it holds, it may rebound, so we need to pay close attention to subsequent trends.
The upper resistance range is 3340-3350. If it cannot break through here, gold will continue to adjust downward.
Trading strategy:
Let’s first look at the support of 3300-3290. If it doesn’t fall below, we will take a short-term long position.
Let’s look at the resistance of 3340-3350. If it cannot break through, go short. The target will continue to be 3300. If it falls below, then look at 3260.
Trade active
Sure enough, after the gold price fell below the support of 3300-3290, it started to fall further. The current price is 3265, which is very close to the previous low of 3260. If 3260 cannot be maintained, there is a possibility of falling to 3220-3200.
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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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.