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Goldtrend

Yen Wobbles, Gold Gleams: A Stirring in Global Currency MarketsThe foreign exchange market witnessed a tug-of-war this week, with the Japanese yen (JPY) taking center stage. Speculation surrounding potential intervention by Japanese authorities to prop up the weakening yen against the US dollar (USD) sent ripples through the currency landscape. Meanwhile, the US Dollar Index (DXY), a broad measure of the greenback's strength, dipped, impacting the price of gold, which became more attractive to some buyers. The Yen's Woes: Intervention or Market Forces? The Japanese yen has been on a depreciating streak recently, driven by a widening gap between Japanese and US interest rates. Japan's central bank, the Bank of Japan (BOJ), maintains an ultra-loose monetary policy with near-zero interest rates, while the US Federal Reserve is signaling a more hawkish stance with potential interest rate hikes on the horizon. This disparity makes yen-denominated assets less appealing to investors seeking higher returns, pushing the yen's value down. The recent rumors of intervention suggest that Japanese authorities are concerned about the rapid depreciation of the yen. A weaker yen can be a double-edged sword. While it makes Japanese exports more competitive in the global marketplace, it also pushes up the cost of imported goods, leading to potential inflationary pressures within Japan. Intervention's Effectiveness: A Double-Edged Sword Currency intervention involves a central bank buying or selling its own currency to influence its exchange rate. In this case, buying yen would aim to strengthen it against the dollar. However, the effectiveness of such interventions depends on various factors. • Market Sentiment: If the market heavily anticipates further depreciation, a one-time intervention might have a limited impact. The BOJ would need to signal a sustained commitment to supporting the yen for a more significant effect. • Ammunition: Intervention requires significant financial resources. The BOJ's foreign exchange reserves would play a crucial role in its ability to sustain intervention efforts. The Greenback's Sway: DXY Dips, Gold Gleams The US Dollar Index (DXY) gauges the value of the US dollar relative to a basket of major currencies, including the euro (EUR), the Japanese yen (JPY), the British pound (GBP), and others. This week's dip in the DXY indicates a weakening of the US dollar against this basket of currencies. This can be attributed to several factors, including: • Profit-taking: After a period of strength, some investors might be taking profits from their dollar-denominated holdings. • Global Risk Aversion: Increased global uncertainty due to geopolitical tensions or economic concerns can lead investors to seek haven currencies, potentially weakening the dollar. Gold's Allure: A Beneficiary of a Weaker Dollar Gold is often perceived as a safe-haven asset during times of market volatility or economic uncertainty. When the US dollar weakens, gold becomes cheaper for buyers holding other currencies. This week's dip in the DXY could be contributing to some increased interest in gold. However, gold's price is influenced by various factors beyond the dollar's strength. Interest rates, inflation, and investor sentiment all play a role. Looking Ahead: A Dynamic Landscape The global currency market remains a dynamic environment, and the events of this week highlight how various factors can interact and influence exchange rates. The future direction of the yen and the DXY will depend on a combination of economic data releases, central bank actions, and broader market sentiment. Here are some key factors to watch in the coming days: • BOJ Policy Statements: Any signals from the BOJ regarding potential adjustments to its monetary policy could impact the yen's valuation. • US Economic Data: Upcoming US jobs reports and inflation data can influence the Federal Reserve's monetary policy decisions, potentially impacting the DXY. • Geopolitical Developments: Global events with significant economic implications can trigger market volatility and impact currency valuations. By staying informed about these developments, market participants can make informed decisions about their currency positions and potentially take advantage of market opportunities.
Long
by bryandowningqln
GOLD-analyze Today you need to pay attention to the impact of US non-farm payrolls data and unemployment rate on gold in April. Today's golden range is 2280-2344, and the small range is 2290-2330 You can trade within the range. Every Friday's trend is quite unexpected. You need to have stricter SL to prevent gold from causing you greater losses because the data breaks through the range. Non-agricultural employment was as high as 303,000 last month, and this time it is expected to be 243,000. The probability of the data being higher than 240,000 is slim. To a large extent, it is still lower than 240,000, which means it is a bullish situation for gold, but we need to wait for the release of data to know the details What if you don't know how to trade? Join me as I analyze and provide ideas every day
FX:XAUUSD
by UnknownUnicorn71050047
GOLD : Gold's ability to increase is still thereXAU/USD has met the minimum requirement to complete a bearish "Measured Move" pattern after reaching the 0.618 Fibonacci level of wave C at $2,286. This means that gold prices will likely go up in the near future. This pattern is made up of three waves in a zig-zag pattern. The end of wave C, which is also the final wave, can be estimated based on the length of wave A and will usually be equal to the length of wave A or equal to the 0.681 Fibonacci ratio of wave A. If the price penetrates the 0.681 Fibonacci level At 2,285 USD, it is possible that wave C in this model will be equal to wave A and the target will be 2,245 USD or also the Fibonacci 1,000 threshold. In general, the trend of gold prices is still increasing in both the medium and long term. If it successfully breaks through the cluster of SMA lines and the peak of wave B at around 2,350 USD, it could open a new price increase and XAU/USD could completely return to test the high of 2,400 USD. However, the Fed did not forget to send the market a "hawkish" signal on the issue of inflation, specifically: "In recent months, there has been no significant progress towards the 2% inflation target. " This makes some investors concerned about the possibility of the Fed raising interest rates in the future, which could negatively affect gold prices.
TVC:GOLD
by SantaTradeGold
Profited $14K, NFP is expected to rise and then fall backThis morning, I shorted gold near 2326.31, and as gold fell back to hit TP: 2315, I profited and left the market; I added positions and went long gold near 2296 and 2286, and as gold bottomed out, it hit TP again: 2300 profit and exit. The total profit exceeded GETTEX:14K , which was another good profit for several days in a row! Tomorrow will usher in a golden highlight moment, because NFP will be released tomorrow, which will definitely intensify short-term fluctuations and even guide the short-term direction of gold. It is a challenge but also an opportunity. In my opinion, gold is likely to rise first and then fall under the influence of NFP market! Judging from the recent economic data in the United States, the U.S. economy is strong, which limits gold’s upside to a certain extent. Moreover, high inflation has not yet been completely resolved, so the market’s expectations for the Federal Reserve to cut interest rates are decreasing, which is also negative for gold to a certain extent. In addition, gold has also confirmed the validity of the 2430 top at the technical level, so the overall short trend of gold has been established.At least gold has demand to extend its decline. So why does gold rise before falling? Because gold has been weak recently and shorts have gradually gained the upper hand, the market is likely to need to use NFP data to kill a batch of short positions first and harvest some funds;In addition, gold has fallen ahead of schedule in the past two days, touching the 2285-2280 area many times, which is likely to reserve room for growth in the NFP market in advance. In the short-term structure, gold's technical bottom-out rebound creates a double-bottom structure in the short-term structure, which is helpful for gold's short-term rise. Therefore, in the NFP market, gold is very likely to rise and fall, and continue its decline. Judging from the current trend, if gold rebounds first, we will first focus on the 2325-2330 area and the 2350-2355 area above. If gold rebounds first with the help of NFP data, I predict that gold is likely to touch the 2325-2330 area during the rebound, and may even try to touch the 2350-2355 area, and then fall back or even continue to fall to the 2270-2260 area. Therefore, in this process, there is a good opportunity to participate in gold trading, and the profit is definitely not small. I will definitely not miss this good opportunity once a month.After all, there are always markets, but opportunities are hard to come by! I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
OANDA:XAUUSDLong
by alongwineer
Bulls take advantage of the momentum to counterattack, but the r Wednesday's open continued Tuesday's downward trend. After the European market fluctuated and rose, the U.S. market, under the influence of a series of positive economic data, coupled with the impact of the Federal Reserve's decision and Powell's speech, the gold price rose sharply to the $2,326 line, and then turned positive. The number of U.S. ADP jobs, known as "small non-agricultural employment", increased more than expected in April, indicating that the U.S. job market remains strong. After slowing down late last year, the average pace of hiring has accelerated over the past three months, almost matching the pace seen in the first half of 2023. The good news is that wage growth continues to slow. U.S. ADP employment increased by 192,000 in April, the largest increase since July 2023, higher than the 175,000 expected. However, that was slightly lower than the upwardly revised 208,000 in March. At the same time, the ADP wage indicator showed that year-on-year wage growth for employed workers was essentially flat at 5% in April, the lowest level in years; wage growth for those changing jobs fell to 9.3% from 10.1% in March. , but still higher than the level at the beginning of the year. This provides some welcome news amid several other signs that inflation is more resilient than many economists and policymakers expected. Economic data released on the same day showed that the U.S. manufacturing industry had a weak start to the second quarter, with the S&P Global Manufacturing PMI sales price inflation in April falling to a three-month low. Chris Williamson, chief business economist at S&P Global, said that overall, producers also appear confident enough in the business outlook to continue adding employment at a rate comparable to the average of the past two years and investing further. Regarding operational capabilities. From an inflation perspective, it is also reassuring that commodity prices are rising at a slower pace than the 11-month high set in March. Growth remains high by historical standards, however, well above the average of the decade before the pandemic, as businesses continue to pass on higher commodity prices to customers. Fed officials chose to maintain the federal funds rate at 5.25%-5.50%. They noted in the statement that risks related to achieving the Fed's dual mandate of focusing on employment and inflation have become more balanced over the past year. While they acknowledged progress on inflation, they also acknowledged that recent data showed progress had stalled. Federal Reserve Chairman Jerome Powell said at Thursday's post-Federal Open Market Committee (FOMC) press conference that it may take the Fed longer than previously expected to gain enough confidence in the trajectory of inflation to begin cutting interest rates. "We have stated that we do not believe it is appropriate to lower the target range for the federal funds rate until we are more confident that inflation will continue to move toward 2%," he said. Previously, the Fed chose to keep its benchmark interest rate unchanged and released new stimulus measures. inflation concerns. "It may take longer than previously expected to gain greater confidence," Powell said. Powell insisted that the data did not convince policymakers that inflation was falling toward the Fed's 2% target, making a rate cut unlikely at this time. He also did not hint at the possibility of a rate hike. However, Powell stopped short of suggesting a rate cut this year or that rates have peaked, as he has previously said. The Fed may not be confident enough to cut interest rates yet, but it's worth noting that the idea of raising rates doesn't appear to be on the agenda yet. Powell's comments reassured investors who feared the Fed might respond more aggressively to signs that inflation progress is stalling. Overall, the general meaning is: the interest rate cut has been delayed, but not derailed. This is a very cautious hawkish statement and the next step is unlikely to be a rate hike. This also makes this press conference far less hawkish than market expectations, at least interest rate hikes are not on the table. This statement caused the U.S. dollar to plummet and stimulated a sharp rise in gold prices, once exceeding $30! The "Global Gold Demand Trend Report for the First Quarter of 2024" released by the World Gold Council on April 30 showed that global gold demand increased by 3% year-on-year in the first quarter. Among them, the Bank of India’s gold reserves increased by 19 tons in the first quarter of this year. The Reserve Bank of India purchased a net 16 tonnes of gold last year. Data shows that in the first quarter of this year, the Reserve Bank of India purchased more gold than it did in all of last year. This message is timely. This news can only temporarily affect the price and will not continue to affect the trend. Market prices will eventually return to technical trends. The current market price is blocked at the $2,327 level. This does not rule out the possibility that market prices will fall back under pressure. For two weeks in a row, we have defined the current trend as a downward correction following a bullish rally. Because the previous upward cycle was too large and lasted too long, it would be difficult to complete the correction in the short term. This round of adjustment must be a substantive adjustment. Downward, long-term adjustment, there is currently only one negative line on the weekly line, which is not enough to complete the entire upward correction, and the adjustment cycle has not yet continued. In the downward correction of the secondary rhythm, it is very easy to form a double top within a small cycle. Currently, 2327 has been drawn twice. The inhibitory effect here is likely to inhibit price stagnation and rebound, thereby exiting the decline. The short term is bearish around this line! International golden thinking layout, for reference only: Short term: short at current price 2325/26, stop loss 2333, target 2312/2300
FXOPEN:XAUUSDShort
by cdfxcdfx
FOMC - ADP NF Gold price fluctuated strongly today⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The price of gold (XAU/USD) slightly increases to $2,288 during the Asian session on Wednesday. This is due to cautious market sentiment ahead of the Federal Reserve's monetary policy meeting. The US ISM Manufacturing PMI and ADP Employment Change will be released later in the day. ⭐️ Personal comments NOVA: Gold price is completing a DOWN correction. Today with many important economic data such as: PMI, ADP - NF and FOMC will determine the Gold price trend in early May until 2024. ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2260 - $2262 SL $2255 TP1: $2270 TP2: $2278 TP3: $2285 🔥SELL GOLD zone: $2324 - $2326 SL $2330 TP1: $2310 TP2: $2295 TP3: $2280 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
6
GOLD / XAUUSD Bearish Short side Robbery PlanDear Gold Robbers, This is our master plan to Heist Bearish side of GOLD mines. I have two plans kindly please follow the plan i have mentioned in the chart focus on Short entry, Our target is Green Zone that is High risk Dangerous area. My dear Robbers please book some partial money it will manage our risk. Be safe and be careful and Be rich. Loot and escape near the target 🎯 support our robbery plan we can make money take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
VELOCITY:GOLDShort
by Thief_Trader
GOLD XAUUSD ROBBERY PLAN TO MAKE MONEYMy Dear Robbers / Traders, This is our master plan to Heist of GOLD mines based on Thief Trading style Technical Analysis.. kindly please follow the plan i have mentioned 2 plans with target in the chart Please look at the chart before entry, Our target is Red Zone for Bulls and Green Zone for Bears that is High risk Dangerous area market is overbought / Oversold / Consolidation / Fundamental news occur / Strong Pullback happens at the level. Be safe and be careful and Be rich. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of Powerful dynamic levels whether Buy or sell, Once it is cleared we can continue our heist plan to next target. support our robbery plan we can make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
CAPITALCOM:GOLD
by Thief_Trader
Gold short-term trading strategy Gold is approaching our awaited price target of $2,260.60, which is the 50% Fibonacci retracement of gold’s rise from $1,984.16 to $2,431.44. This means that if the price of gold falls below $2260.60, the price of gold will continue its bearish trend and aim for the next target of $2207.80 On the other hand, we noticed that the trend of gold prices showed a downward trend, which supported the expectation that gold prices would continue to decline and hit more bearish targets. In particular, the 50-period EMA formed continued bearish pressure. Therefore, unless gold rebounds above $2,325.90 and remains above this level, we will continue to predict that gold prices will be in a bearish trend for some time to come. Gold prices are expected to trade today at the support level of $2,260.00 and the resistance level of $2,305.00. The expected trend for gold prices today is bearish. It is recommended to short gold near $2,300 I share trading strategies and trading ideas every day. ⬇⬇⬇Get detailed trading signals so that everyone is no longer confused when trading. I hope that with my help, everyone can get good results!
OANDA:XAUUSDShort
by Gold_Digger_King
With the Federal Reserve’s interest rate decision in mind, how s Gold has little fluctuation during the day. Gold will make a big debut tonight on small non-agricultural issues and the Fed's interest rate decision. Gold seems to be waiting for the arrival of data. Gold's current weak pattern has not changed. It still rebounds and continues to be short. The data fluctuates slightly at night. , the U.S. market and other rebounds at the 2300 mark continue to be bearish. Gold's 4-hour double top structure breaks and continues to suppress gold's rise. Gold's 4-hour moving average is still arranged into a dead cross for short positions, and the opening is gradually widening. Gold is now focusing on the resistance of the 2300 mark and continues to be short under pressure. US market data rebounded near 2300 and continues to be short. Go with the trend, the trend is king, the short trend is not over yet, the decline will not end, and the rebound will continue to give short selling opportunities. U.S. market operation ideas: Gold is short at 2300, stop loss at 2310, target 2280-2275; If you like my analysis, please let me know
FXOPEN:XAUUSDShort
by cdfxcdfx
The Gold Spot to U.S. Dollar (XAU/USD) trend1. **Chart Overview**: - The image displays a **candlestick chart** representing the **price movement of gold** against the U.S. dollar. - Candlesticks indicate price changes within specific time frames: green for price increases and red for decreases. - The Y-axis represents the **price of gold in USD**, while the X-axis shows dates from **May 3rd to May 13th**. 2. **Technical Analysis Tools**: - **Trend Lines**: Two prominent diagonal trend lines are drawn across the candlesticks, suggesting a **channel pattern**. - **Support and Resistance Levels**: Horizontal dashed lines indicate potential **support or resistance** levels at different price points. 3. **Price Fluctuations**: - The chart captures the **volatility** of gold prices during the specified period. The trend depicted in the **Gold Spot to U.S. Dollar (XAU/USD)** candlestick chart has several implications: 1. **Bearish Movement**: The pronounced **downtrend** suggests a decline in the value of gold against the U.S. dollar. Investors and markets relying on gold as a **safe-haven asset** or a hedge against inflation may be impacted. 2. **Technical Analysis Signals**: - The **channel pattern** formed by the trend lines indicates potential price movement boundaries. - **Support levels** (dotted horizontal lines) may act as buying opportunities, while **resistance levels** could hinder further price increases. 3. **Market Sentiment**: The downtrend may reflect **economic optimism**, leading investors away from safe-haven assets like gold. The **Gold Spot to U.S. Dollar (XAU/USD)** trend has recently shown a **downturn**. Let's explore the possibilities: 1. **Recent Movement**: - Over the past month, gold has experienced a **5.57% increase**¹ . - However, in the last **5 days**, it declined by **0.22%**¹ . 2. **Technical Analysis**: - The weekly chart indicates a **steep decline** from around $2393 to $2295. - A **bearish candle** formation is currently underway. - Support levels and retracement patterns are being closely monitored by traders. 3. **Factors to Consider**: - The **U.S. Dollar Index** is recovering, making gold less attractive in USD terms. - Short-term appeal remains weak due to easing tensions in the Middle East and reduced safe-haven demand. 4. **Forecast**: - Analysts suggest that gold's bullish potential may continue into early 2024 due to a **looser Fed policy**, lower bond yields, and a weaker USD. - However, a global economic downturn could limit gold's gains² ³ .
OANDA:XAUUSDShort
by The90sTraderOfficial
Gold has fallen below 2300, and it will be short if the market r After gold adjusted to a high level for a long time, the gold price fell below the 2300 mark last night, and also fell below the key low support level of 2291. Gold's new downward wave has emerged, and at the same time, short sellers have entered a new range! In other words, there will be a big change in the recent operating ideas, and a short rebound will be the only feasible strategy! The one-hour line continues to fall. For short-term layout, you can refer to the long-short conversion level of the 2291 low point. If it rebounds again and reaches 2291, you can go short! At the same time, we should also focus on the repair level of the upper moving average pressure. Currently, the first moving average pressure is at the 2311 line. If the deviation is large, it will not be used as a reference for layout, but it can still be used as a reference indicator for the strength of the long and short market! Don’t worry if the gold price returns above the moving average in the near future. As long as it doesn’t break through 2352 again, we will treat it with a short-term approach! specific strategies Gold is short at 2291, stop loss is 2299, target is 2270
FXOPEN:XAUUSDShort
by cdfxcdfx
🧑‍🎓 XAU/USD ANALYSE 📈 UPDATED MORE READ THE CAPTION?By Wolrd Forex Traders Hello 👋 "G old Market Analysis 💡📊👀 4H Time Frame Chart 📉🕒 _Bearish Signal ⚠️👎_ We're seeing a potential short opportunity in the Gold market, with a current price of 2354. Our target is 2300, which is a key support level. A breakout below this level could lead to a significant price decrease 📉💸! _Analysis 🤔📊_ The 4H time frame chart shows a bearish trend, with a series of lower highs and lower lows. The Relative Strength Index (RSI) is also indicating a bearish signal, with a reading of . The Moving Averages are aligned, providing additional confirmation for a short position 💪📉. _Trade Strategy 💰📉_ Sell: 2354 (short) Target: 2300 (next support level) Stop Loss: 2380 (bearish warning) ⚠️🚨 If the breakout occurs at 2300, the next target is 2270. Note: This analysis is based on a 4H time frame chart and is subject to market changes and fluctuations. Always use proper risk management techniques and consult with a financial advisor if necessary. Follow me for more market insights and analysis! #Gold #XAUUSD #tradingview #bearish #marketanalysis #trading #finance #investing"
OANDA:XAUUSDShort
by SMC-Trading-Point
GOLD stillin bearish Sideways. Hi Everyone, hi everyone. we can expect GOLD will trade sideways but still under bearish control i think this week will be closed between 2327 -2340 if the CORE PCE INDEX not far away from forecast. but you need also watch the 2368 - 2372 . closed above that i think the trend is changing to sideway between 2390 - 2305 for longer time. closed below 2305 beware of high correction like last monday. very dangerous. dont forget also buy a real gold because it will safe your asset if we hit 2200 2100 I hope you enjoy your weekend. Cheers for everyone. i try to always we will keep you all updated . Please don't forget to like, comment and follow to support me, i really appreciate you support ! i'll help you to have a great trade. Please using good money management. dont take any emotional trade.!!!!!!!! Educational: Dont risk more than 0.2% lot size on trending market Dont risk more than 0.5% lot size on ranging market Wish good luck for all people. Please help support me by Clicking like button, and if you like my ideas please follow me and support me. i Really Appreciate it! i'll make more and more great analysis if this chanel grows. on Gold, eurusd, gbpusd and oil specially. what do you think? please comment and rate below.
FX:XAUUSDShort
by LaurentWilvyne
1
Gold breaks new low, goes short after reboundingGold's 4-hour moving average crosses downwards in a short position, and gold's downward space opens up. Gold's 4-hour double top continues to suppress gold's rise. Gold fell below the last new low of 2292, and gold has resistance at the 2300 mark. If it rebounds to around 2295, it can be shorted first. Trading strategy: short gold 2295, stop loss 2305, target 2280-2275 The above is purely a personal opinion sharing and does not constitute operational advice. Investments are risky and you are responsible for your profits and losses.
TVC:GOLDShort
by Donald-king
GOLD-analyze The Federal Reserve's monetary policy meeting is expected to maintain interest rates at 5.25%-5.5%. Federal Reserve Chairman Jerome Powell's speech on Wednesday will provide more clues on expectations for a rate cut. Traders have scaled back bets on the Federal Reserve cutting interest rates this year as recent U.S. economic data has been stronger than expected and inflation continues to rise. Bond investors expect Fed Chairman Jerome Powell to sound hawkish at a news conference, likely stating that the Fed is in no rush to cut interest rates given persistent inflation and a still-strong labor market. In addition to the Fed's interest rate decision and Fed Chairman Powell's speech today, the US April ADP employment data and the US April ISM manufacturing PMI data will also be released, which requires focus. Yesterday, gold fell all the way without even a chance to rebound. This was something I did not expect. Since the market has already shown this trend, we can only follow the market. The current market is absolutely weak. Today, rebound selling is the main focus. The suppression points of concern above are the moving average suppression points of 2313, 2300, and 2295. But gold must fall below 2270 before it can completely turn into a downward trend. Otherwise, I think gold still has a chance to rebound to 2330-2344. The focus of today's market is after the release of the US ADP data. The impact of the data cannot be seen through technical aspects. We will wait for the data to be released before looking. Therefore, today's trading can wait for the resistance point to sell. Radical traders can sell near 2290. What if you don't know how to trade? Join me as I analyze and provide ideas every day
FX:XAUUSDShort
by UnknownUnicorn71050047
Gold trading strategy analysis Recently, there have been a lot of bearish calls in the market. The louder the calls, the stronger the rally. The two important functions that affect the price trend of gold are risk aversion and resistance to inflation. First, the relationship between supply and demand. Global gold mining and supply have stabilized, with market supply exceeding demand and prices falling. Second, economic factors: global economic growth is slowing down and demand for bulk commodities is weakening. U.S. data continued to rebound, consumption was weak, and global risk assets suffered a sell-off. This is especially true as Cyprus plans to sell off its gold reserves, sparking concerns that other countries may follow suit. Well-known international investment banks such as Goldman Sachs and Merrill Lynch began to collectively lower their expectations for gold prices, causing investors to sell in panic. For today's gold on Tuesday, the price fell below the ascending channel line and finally rebounded to determine the resistance area 2330-2332. This is a defensive suppression range and continued suppression is effective. If the price falls below the 2315-2312 area, if it falls below, then look for Go to the next 2303-2300 area, and then look for the 2388 and 2366 ranges The next thing to do is to use the top of the starting and falling points as a defense, and then continue to hold gold high, watch the price accelerate to test the 2315-2312 area, and switch the range downwards if the position is broken. My suggestion is to go short around $2320-2310, with a stop loss of $2335 and a target of $2302-2300. I share trading strategies and trading ideas every day. ⬇⬇⬇Get detailed trading signals so that everyone is no longer confused when trading. I hope that with my help, everyone can get good results
OANDA:XAUUSDShort
by Gold_Digger_King