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Gold awaits tariff volatility！ 📌 Driving Events Gold rebounded from a weekly low near $3,245 and broke through the $3,300 mark on Thursday, boosted by optimism following a weaker-than-expected U.S. jobs report and a U.S. court ruling halting President Trump's proposed tariffs. Gold fell on Friday as the dollar rose slightly, while investors await a U.S. inflation report that could provide further insights into the Fed's policy trajectory. 📊 Commentary Analysis The market continued to fall for an hour, fluctuating back and forth, lacking continuity - it rose yesterday and fell today. Gold rebounded above $3,320 in early trading before retreating. On the weekly and daily charts, the trend is still dominated by range fluctuations rather than unilateral gains or losses. I think shorting gold should be considered today, with support below at $3,280-3,270-3,260. However, prices may struggle to make new lows. As today is the monthly close, large fluctuations suggest that we should avoid chasing ups and downs. 💰Strategy plan XAUUSD Sell: 3330-3320-3310 tp: 3300-3290-3280
OANDA:XAUUSDLong
by Labaron
1
Monthly closing bet. Opening a falling gap?Information summary: At 8:30 a.m. on Friday, U.S. time, the U.S. Bureau of Economic Analysis will release the personal consumption expenditure (PCE) price index for April. As the most favored inflation indicator of the Federal Reserve, the year-on-year change in the core PCE price index has a greater impact on policymakers. If the data is released, the core PCE price index in April rises faster than expected, and the direct reaction of the market may lead investors to prefer the policy rate to remain unchanged in July. In this case, the U.S. dollar may gather strength, causing gold prices to fall before the weekend. Market analysis: Gold prices rose as high as 3322 in the early Asian session, and then fell without a dollar line. As of now, the lowest price has retreated to the 3290 U.S. dollar line. At present, it is not ruled out that gold will fluctuate widely; but the trend view is still biased towards the short side. The strength of the current rebound still depends on the strength of the European session. In the European session, the operation will focus on the vicinity of 3310 U.S. dollars first, and the pressure will still look down to 3280 U.S. dollars. However, if the European session falls directly below $3,285, there is still room for decline, and the support is around 3,250. In addition, today is the last day of the monthly line closing, and the range of fluctuations has not yet left, so you can continue the short strategy. Operation strategy: Short around $3,310, stop loss at $3,320, and profit range around $3,250.
OANDA:XAUUSDShort
by Quaid-1
Tariff policy reversed again? Be careful on Friday.Yesterday, Trump and the US Trade Court ruled that the US International Trade Court had stopped the tariff policy. Gold once fell to a low of 3245, while the US dollar rushed all the way to a high of 100.5. Then it reversed, and gold began to rectify and rise. As of now, it has once touched a high of 3330, close to a rebound of $85. Today, it reversed again. The US Court of Appeals allowed Trump's tariff policy to continue to take effect temporarily. And impose tariffs on most areas of the global economy, including allowing tariffs of up to 15% within 150 days to address trade imbalances with other countries. Compared with the tariff policy that was deemed illegal this week, this step is more legally defensible. Looking at the current gold, it is likely that gold will fall sharply today. After gold fell yesterday, everyone wanted to short gold, but gold rebounded all the way. So, today, Friday, is an opportunity for short-selling strategies. The short positions have been eliminated, so gold has every reason to fall, and it will fall sharply. Once it falls below 3280 in the downward trend, it will test the low point of yesterday near 3250. If it breaks through 3250 again, it will go directly to the low point near 3200. The current short-selling strategy has little to do with technical analysis, it is completely a test of human nature.
OANDA:XAUUSDShort
by Quaid-1
Gold is still washing out, beware of a fall below 3326! 📊Comment Analysis After gold fell in the Asian session, the entire European session rebounded continuously, and the US session hit the 3318 line. Overall, it is still a wide range of shocks and washes out. No matter whether it rises or falls, it is not continuous, and the fluctuation range is large, which is difficult to grasp in short-term operations. The current rise cannot be regarded as a strong trend. The characteristic of the shock market is repetition. The 4H cycle opens at 3326 as a watershed. Beware of a fall below this position in the US session. You can try to go short near 3320/3325. At present, it is a key position to bet on the short position. If it goes up, it will be 3340/3350. The rise in a short period of time is too large, and once it falls back, the strength will be the same. ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose a lot that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDShort
by Labaron
2
Gold starts a new trend? What is the reason?Gold prices rebounded, and the phenomenon of "buying on dips" appeared after hitting the low of the week earlier. In addition, the US Trade Court ruled that President Donald Trump's tariffs on major trading partners exceeded his authority, which attracted market attention. Investors' focus has gradually shifted to the US core inflation data to be released this week. So far, the price of gold has risen by 0.91%, and the price has fluctuated around 3315. It hit the lowest point since May 20 during the European and Asian sessions. The cyclical market presents a three-wave pattern. The first two periods showed a trend of rising first, then falling, and then rising again. It is currently entering the third period. The current rally has basically ended and will usher in a small decline. I believe that the current rise in gold is partly due to technical covering, while economic uncertainty continues to support gold prices amid ongoing US debt problems and global trade tensions. In addition, there are reports that the United States has ordered a large number of companies not to export goods to China without permission, and revoked the export licenses that some suppliers have obtained. The current market is focusing on the US GDP data to be released later and the core personal consumption expenditure price index to be released on Friday. These two data will become an important basis for judging the future interest rate path of the Federal Reserve. I will also pay attention to the release of news in a timely manner so as to update you in time on the impact of news on gold prices. Please be patient, traders.
OANDA:XAUUSDShort
by Quaid-1
The golden range strategy continues to workGold bottomed out and rebounded as expected today. Friends who follow me should be able to clearly feel that I have been insisting on analyzing the trend of "bottoming out and rebounding" recently. Today, gold opened at 3300, and rebounded after the lowest price fell to around 3291. So far, the highest price has reached 3325. Overall, the support below gold is still strong, but the suppression above cannot be ignored. Therefore, the market performance yesterday and today was relatively stable, with small fluctuations as the main trend. In terms of operation ideas, continue to pay attention to the support level of 3290-3295. If it falls back and does not break, maintain a bullish mindset. At present, the long orders in the 3290-3295 range have been notified to enter the market as planned, and are currently in the profit stage. If you encounter difficulties in the current gold market operation, I hope my analysis can help you. Welcome to communicate at any time. From the 4-hour cycle chart, the support below gold is around 3290-3295, and the pressure above is concentrated in the 3330-3340 range. In the short term, the watershed between long and short is around 3275-3283. Before the daily level effectively falls below the watershed, it is still in a long-short shock pattern, maintaining the main theme of "high-altitude and low-multiple" cycle participation. Gold operation strategy: If gold falls back to the 3290-3295 line, you can try to go long. If it further falls back to the 3280-3285 line, you can consider covering long orders, and the target is around 3316-3320.
OANDA:XAUUSDLong
by TP_Daniel5
Don't chase gold if it falls below $3,300 The Trump administration's tariff policy has been stopped through judicial procedures. Affected by this news, it is inevitable that gold will continue to fall back today: yesterday's rebound hit the resistance level and fell back to $3,325. The market fell sharply in the early trading, and the market pattern quickly changed from range fluctuations to bearish dominance. From a technical analysis, the bearish pattern of the medium-term weekly cycle is forming effective pressure. Even if there is a sharp rebound in the future and breaks through the recent highs, it is very likely to be a bull trap-essentially a precursor to a return to a downward trend after a decline. Gold/USD Sales @3270-3280 TP: 3250-3240 sl: 3290 ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose a lot size that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDShort
by Labaron
1
Gold rebounded after hitting the bottom. Don't shortOn Wednesday, the New York International Trade Court of the United States stopped Trump's planned tariff policy; it ruled that Trump's act of imposing comprehensive tariffs on countries that export more to the United States than imports without the authorization of Congress was an overstep. This means that most of Trump's tariffs will be suspended. After the news came out, gold fell rapidly, hitting a low of $3,245. It has now adjusted back and maintained around 3,270 for consolidation. From the current point of view, most traders with short strategies have taken profits around 3,250. From the hourly chart, gold has started to pull back from $3,265 this week, and as of the current low of $3,245, it is a three-wave downward trend. The first wave fell to $3,225, and then rebounded to $3,350. The second wave fell from $3350 to $3285, and then rebounded to $3325. The third wave of decline has been completed. According to the early decline and then the rise, the current rebound from $3245 is likely to test around $3300. However, considering that $3285 is the previous low point, $3285 is also the upward pressure position this time. Therefore, we should pay close attention to the pressure range of $3285-3295. If it can stabilize below $3295, then we can rely on the $3295-3285 range for short operations. On the contrary, if the rebound is stabilized above 3300, it is necessary to stop loss in time.
OANDA:XAUUSD
by Quaid-1
Risk aversion cools down, gold may continue to fall 📌 Driving events The International Trade Court in Manhattan, USA, blocked Trump's "Liberation Day" trade measures. This news is conducive to shorting gold. This news is undoubtedly a reversal of Trump's "reciprocal tariff" policy implemented on April 3, slapping Trump in the face! Gold has been mainly driven by tariffs this year, and the decline is mainly due to the easing of tariffs. Spot gold has fluctuated sharply recently. After opening at $3285.91/ounce in the Asian session, it reached a high of $3294.46/ounce, and then fell sharply. The lowest reached around $3240 and continued to fall. 📊Comment analysis The volatility of the Asian session highlights the fierce game between long and short positions. The changes in risk aversion caused by previous geopolitical and economic data, and investors' profit-taking and other factors are intertwined. Subsequent investors need to keep a close eye on key information such as the minutes of the subsequent Federal Reserve meeting in order to grasp the trend of gold prices. 💰Strategy Package After the Asian session opened, gold was affected by the news and quickly plunged through the 3280-85 area support. After a rapid decline in important support, the upper 3280-85 constituted the next strong resistance, the strong and weak dividing line. Below it, the weak position is expected to gradually fall to 3245-50 before reversing the short pattern, and further to 3225-20 and 3200. Given that the 3250-45 area is a recent bullish breakthrough, the 3245-50 area support is bound to usher in a strong rebound during the day, and further attention will be paid to the 3220-25 area and the 3200 mark support rebound. Refer to it to formulate trading strategies! ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDShort
by Labaron
1
Golden Jedi counterattack! Key support ignites the bull engine📌 Gold Technical Analysis & Operation Strategy Update Gold bottomed out and rebounded as expected, and the trend basically met recent expectations - oscillating upward around the support range below. 💡 Key Point Review Today, gold opened at around 3300, with a minimum of 3291, and then rebounded, reaching a maximum of 3325. The overall trend still fluctuates within the range, with strong support below and obvious suppression above, and the overall performance is a narrow range of fluctuations. 📉 4-hour chart analysis Support focus: 3285-3295 area Pressure focus: 3330-3340 area Short-term long-short watershed: 3275-3283 line 🔎 Before effectively falling below the watershed, it is still mainly seen as range fluctuations, and the high-altitude low-multiple strategy continues to be implemented. 📈 Operation strategy suggestions 1️⃣ Try to go long with a light position if the price falls back to 3295-3300 2️⃣ If the price falls back to 3280-3285, you can add to your position appropriately 🎯 Target focus: 3316-3320, and look to 3330-3340 after breaking through ⚠️ Risk control suggestions: strictly set stop loss, control position, and prevent the risk of range breakout.
OANDA:XAUUSDLong
by TP_Daniel5
Gold is waiting for a breakthrough? A new trend?In the Asian market, gold has repeatedly tested the downward trend near $3,300. As of now, it has stabilized above $3,300 again. The current highest rebound is around $3,323. The price is under pressure at this position and keeps testing to break through this position. From the hourly chart, the previous trend of falling from $3,365 was a decline and then rebound. The current trend from $3,350 is the same. The current market is around $3,325, which is the position we need to pay attention to. If gold breaks through and stabilizes at $3,325 next, it will test the intraday high of $3,335. Therefore, I suggest that you can maintain the 3,325-3,335 US dollars to enter the market for short selling. You can use yesterday's high of $3,350 as a defense. The target is the support of $3,300 below today.
OANDA:XAUUSD
by Quaid-1
Gold fluctuates upward. Waiting for a breakthrough?Since the trend of today's Asian session is a drop before an increase, and we are currently holding long orders near 3292, the trend is still looking upward. It is about to reach the resistance position near 3325 that I predicted. This is a strong and weak dividing point in the short term. Whether it can continue to break through and move upward depends on the situation in the European session. If you hold a long position, you can continue to hold it and wait for the price to break through. For those who have not entered the market yet, you can continue to wait and see if the upper resistance level can break through strongly. The market changes drastically. I hope everyone will make a profit today.
OANDA:XAUUSDLong
by Quaid-1
Mr. President repeatedly wavered, new trend?Last Friday, Trump threatened to escalate the trade war again, suggesting that a 50% tariff be imposed on the EU from June 1. The US dollar index continued to decline during the day, falling to a low of around 99. Due to increased risk aversion demand, spot gold once rose by more than 2%, reaching a daily high of $3,365. At the opening of this Monday, Trump issued a statement to postpone the imposition of tariffs on the EU, extending the deadline for the EU to face 50% tariffs to July 9. Gold was also affected, and it has continued to rectify its downward trend this week. Yesterday, the lowest point was near 3285. From the current daily chart, the trend support line here on the daily chart has been broken. So it is very likely that there will be a short-term correction trend on the daily line next. Once the lower 3250-3260 is broken, it will directly test the lower trend line of the daily line at 3160-3170. From the 4-hour chart: We can reverse the market. If we take the previous daily low of 3160 as the target, we can see that 3285 is exactly where it stopped and stabilized yesterday. So, it is normal for 3285 to rebound and consolidate. We can also see that the range of the 4-hour chart has been broken, so 3285 may fall directly and break through next. Then the next position to pay attention to is 3260-50. If it falls below this range, we can directly see the trend line support position of 3160-70 in this round of daily lines. Trading is risky, and I hope my analysis can help traders reduce the risk of trading.
OANDA:XAUUSDShort
by Quaid-1
1
Gold 3315 gains and losses are the key 📌 Driving events From the news perspective, data released by the U.S. Department of Commerce on Tuesday showed that U.S. durable goods orders in April plunged 6.3% month-on-month, with an expected value of -7.8% and a previous value revised from 9.20% to 7.50%. Volatile commercial aircraft orders plunged 51.5% in April after rising in March. Boeing said it received only eight aircraft orders in April, the lowest since May 2024, far lower than the 192 orders in March, the highest since 2023. Affected by the sharp drop in commercial aircraft orders, U.S. durable goods orders fell more than expected in April, with core capital goods orders (excluding aircraft and military hardware) falling 1.3%, the biggest drop since October last year. Under the influence of uncertainty in tariffs and tax policies, corporate investment willingness is weakening. Through the data, it is not difficult to find that American companies have shown obvious caution in assessing the demand outlook and have shifted their focus to cost reduction, which directly reflects the impact of uncertainty brought about by Trump's trade policy. At the same time, the tax legislation being debated in Congress has also put companies on the sidelines, further suppressing the impulse to invest. 📊Comment Analysis After the pullback on Monday this week, the decline accelerated on Tuesday, and the continuous decline came back, changing the strong upward trend of last week 💰Strategy Package In terms of operation, in the short term, long and short operations can be carried out in the range of 3315-3297 US dollars, and the support position of 3285/80 should be paid attention to below; medium and long-term investors can buy on dips and take advantage of geopolitical risks and the trend of weak US dollars to gradually establish long positions. ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDLong
by Labaron
Will the gold market usher in a new trend?The Trump administration postponed the imposition of a 50% tariff on the European Union and extended the implementation date to July 9. This unexpected decision became the fuse for the violent market fluctuations. The European Union responded positively, and the US-EU trade negotiations ushered in a buffer period, but the global market has been affected, and the gold market has fallen into a dilemma of long and short interweaving. On Tuesday, the overall gold price showed a downward trend. The price rose to $3,349.85 on the day, and the lowest price reached $3,285.21, closing at $3,300.4. After the opening of the US market, the price fluctuated upward in the short term, and the price ended in a big negative on the day. It is not suitable to be bearish at present before the price falls below the daily support. From the daily level, the current daily level support is around $3,275, and the price may fluctuate upward above this position. At the same time, from the four-hour level, yesterday's price fell below the four-hour support of $3,320, and then continued to fall below the important support position of $3,300 on the daily line; and the short-term pressure is relatively large, so it is necessary to pay attention to the 3275-3320 range for the time being; this fluctuation range is also the middle area between the 5-day MA moving average and the 10MA moving average, and the price will continue after breaking through the range. Operation strategy: Scalping transactions are carried out in the fluctuation range of $3,290-3,315. Quaid reminds all traders: You need to always pay attention to the direction of price trends, take profits in time, and avoid losses caused by unexpected events affecting price trends.
OANDA:XAUUSD
by Quaid-1
3278-3320 key position is mainly high sell low buyAt present, gold rebounded after falling back to 3287, and fluctuated around 3300 in the short term. Pay attention to the support area of ​​3278-3283 below. If it does not break this area, you can still try to go long in the short term. After all, from a technical point of view, the decline during the day is a correction and adjustment to the previous rise. From the 4-hour chart, the upper short-term focus is on the suppression of the 3316-3320 area, and the lower focus is on the support of 3278-3283. In terms of operation ideas, continue to maintain the interval strategy of "high-altitude and low-multiple", rely on key positions to sell high and buy low, and wait patiently for effective signals before entering the market. If the structure or rhythm of the market changes, the strategy will be adjusted in time and notified separately.
OANDA:XAUUSDLong
by TP_Daniel5
2
Gold retracement adjustment. Pay attention to the timing.Gold prices continued to fall today, hitting a low of $3,285, and are currently recovering briefly. I think there is room for profit in the long strategy, but the hourly line is only a single positive rise. Overall, the probability of volatility correction is still high. Compared with the short-term resistance position of 3,320, the correction is still within the normal range. From the 4-hour chart, the 60-day MA of $3,320 has a certain suppression position on the upward trend, followed by the 90-day MA of $3,285, which provides strong short-term support. Today's price drop also failed to break through this support position; so this week will continue to fluctuate sharply, and the large fluctuations up and down are to accumulate momentum for the next wave of rise. The basic operation strategy of the bulls has not changed, but just a halftime break. Operation strategy: Buy near $3,295, stop loss at $3,285, and the profit range is $3,320-3,330.
OANDA:XAUUSDLong
by Quaid-1
1
Spot gold fell below the 3330 mark 📌 Driving events The trend of gold prices this week needs to focus on the following three major risk events: First, the confrontation between Israel and the Houthis intensified this week. On May 25, the Houthis used hypersonic missiles to attack Israel's Ben-Gurion International Airport for the first time, resulting in the interruption of airport operations. Israel subsequently launched a retaliatory air strike. Iran has made it clear that it "will not give in on uranium enrichment activities" and warned that it will take hundreds of alternatives if it is sanctioned Second, although the Trump administration's threat to impose a 50% tariff on the European Union has been postponed to July 9, the market is still concerned about it. If the trade war escalates, it may lead to increased global economic uncertainty, which will in turn boost the safe-haven demand for gold. However, the repetition of tariff policies may also trigger changes in market risk preferences and have a two-way impact on gold prices. Third, record-breaking air strikes in the Russian-Ukrainian conflict Russia launched the largest air strike since the war on Ukraine on May 26, launching 355 drones and 9 cruise missiles, and many parts of Ukraine suffered heavy losses. The attack has heightened market concerns about geopolitical risks, pushing gold prices higher in the short term. However, due to expectations of a prolonged conflict, market demand for safe-haven assets may gradually weaken. Technically, gold has performed strongly at support levels near $3,330. 📊Commentary Analysis This week, gold prices will remain highly volatile under the intertwined influence of multiple risk events. Investors need to remain vigilant and flexibly adjust strategies to respond to market changes. Analyze the market, make plans, and manage risk. 💰Strategy Package In terms of operations, investors are advised to pay close attention to the situation in the Middle East and the progress of Trump's tariff policy. In the short term, short selling can be carried out in the range of $3,330-3,305, with a target of around $3,290-3,280. Profits can be taken in batches, and a light position can be taken long after breaking through $3,310, with a target of $3,360-3,380. Profits can be taken in batches, and medium- and long-term investors can make layouts on dips, taking advantage of geopolitical risks and the trend of a weak dollar, and gradually establish long positions. ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose a lot size that matches your funds - Profit is 4-7% of the capital account - Stop loss is 1-3% of the capital account
OANDA:XAUUSDShort
by Labaron
2
Economic data released. Start of a new trend?The international gold market suffered a sharp sell-off, and the spot gold price once fell below the key psychological mark of $3,300/ounce, reaching a low of $3,392.59, as the US dollar index rebounded from a low of more than a month and concerns about the international trade situation cooled down. The gold price is currently in a short-term recovery phase, and the downside risk is temporarily lifted. In the long run, the expansion of the US fiscal deficit may support the gold price; but in the short term, according to the latest data released by the United States, it is conducive to the long operation of gold, and the gold price will rise briefly. Gold is strong in the short term, but traders need to take profits in time to avoid unexpected events that cause trend changes. Overall, the short-term trend of gold prices is still subject to the US dollar, interest rate expectations and economic data, and the competition for the $3,300 mark will become the key. The US economic data is within the expected range, and gold has a short upward trend. Operation strategy: Buy near $3290, stop loss at $3280, profit range at $3320-3330.
OANDA:XAUUSDLong
by Quaid-1
1
Gold is about to clarify its trend direction 📊Technical aspects 1. The double-line position of the hourly chart is now in the 3290-3310 area. After the price fell below the double line, it used the lower track of the double line (purple trend line) as suppression and continued to fall and break the low Then after breaking through the double line, it turned into support, especially after breaking through the repeatedly suppressed purple trend line position 3250, forming an accelerated sprint, and the space amplitude exceeded 100 US dollars Then the purple trend line position, as the space switching line position, the subsequent space breakthrough will achieve at least 100 US dollars of space switching 2. The four-hour lifeline position is now at 3320. Due to the price surge After the high, there was no increase in volume and acceleration of the rise, but a continuous rise and fall. The four-hour pattern also began to close. The lifeline position is the dividing line. The double-line lower track and the pattern lower track are superimposed in the 3283 area. Special attention should be paid to it. Together with the 3270 position of the hourly chart, it will become the space switching point for the subsequent market. 3. Interestingly, the daily lifeline position is in the 3285 range, which is also the low point of the second half of last week and the final support point determined by the retracement. Multiple supports are superimposed here, which means that the subsequent price can fall below this point and realize the space switching. 💰 Strategy Package Short Position：3340-3350
TVC:GOLDShort
by TheodoreSilas
1
How will the short-term trend of gold develop?From a technical perspective, the overall volatility is limited. In the near future, the upper side is under pressure from the trend line, and the lower side is affected by the 4-hour middle track support. The overall trend is maintained in the range of 3365-3322. The current monthly line is approaching its closing, and the short-term market is temporarily in a high-level oscillation stage. In the 4-hour cycle, the price range is gradually narrowing, waiting for a directional breakthrough. The lower support focuses on the 3325-3320 middle track position and the previous top and bottom conversion support of the 3308 line; the upper pressure focuses on the 3352 and 3365 areas. After a slight high opening, it weakened. The overall idea is still to treat it as a wide range of fluctuations. It is recommended to be long and short in operation, and adjust the strategy after breaking through. Operation suggestion: Go long near 3330-3323, and the target is 3340 and 3352; If the pressure near 3352 is not broken, consider shorting, and the target is to fall back to the 3330 line.
OANDA:XAUUSDLong
by TP_Daniel5
Gold price pullback. How to trade?Information summary: On Monday, due to Trump's policy changes, high tariffs on the EU were suspended. The market's risk aversion sentiment has declined, and spot gold fell at the opening, but recovered some of its losses in the US market, maintaining a consolidation range of 3320-3355. When the US market opens, there must be large fluctuations. Gold recovered all the gains on Friday due to the increase in tariffs on the EU on Monday. Then, when the US market opens, it is very likely to rise sharply, and also recover the losses on Friday. And from the current gold 1-hour chart: The current trend line of gold has fallen below, and the early trading has also completed the retracement. Therefore, gold may go down next. There is a high probability that it will test the bottom support position of 3310-3300. From the daily chart: You can see that the daily chart is currently an important support position near 3300. Once it falls below 3300, it can be officially confirmed that the correction trend is coming. And the trend after the US market opens is critical. Operation strategy: Short immediately, stop loss 3335, profit range 3310-3300.
OANDA:XAUUSDShort
by Quaid-1
1
Short term is still dominated by short positions!Although the easing of trade tensions in the short term has led to a correction in gold prices, the three core factors supporting the strength of gold still exist: expectations of loose global monetary policy, rising geopolitical risks, and the long-term weakening trend of the US dollar. In particular, the market expectation that the Federal Reserve may maintain loose monetary policy will continue to provide momentum for gold to rise. From the daily chart, the price of gold has shown a clear upward trend since this year. Although there have been several corrections in the middle, the bulls still control the medium and long-term market. After the previous rise in the H4 cycle, it is not so strong now. Instead, it is a volatile trend. The Bollinger band is closed, and the trend strength still needs market stimulation to rise again. The 1-hour moving average of gold has begun to turn, so the rising strength of gold bulls has been suppressed. The high point of the 1-hour rebound of gold has been getting lower and lower, and the low point has also begun to fall. The 1-hour gold has begun to fluctuate downward. The downward trend of the gold rebound is suppressed near 3340. Gold rebounds near 3340 and can still be shorted.
OANDA:XAUUSDShort
by TP_Daniel5