Gold price fell after a high? Trend reversal?Analysis of Asian morning session:
The recent high point of gold price reached 3437 US dollars, and it fell sharply after the Asian morning session opened. The gold market opened after the Asian holiday, and the bulls rose strongly; the Asian morning session was volatile, and the current lowest reached around 3360, a drop of 77 US dollars.
Then it adjusted back and reached a high of around 3404; this position can be used as an important resistance level at the opening time of the Asian session. Between the sharp rise in the morning of the past two days, and the upward continuity of the European and American sessions, coupled with the recent continuous rise and fall, the rapid fall in the Asian morning session.
Quaid believes that in this continuous upward pattern, once there is a sharp fall, it is also likely to be a signal of insufficient bullish power in the short term; then we need to consider whether the bears can reverse, and the current upper pressure position is at 3395 US dollars, and the lower support level is at 3360 US dollars, which is equivalent to the previous top and bottom conversion.
Operation strategy:
Short when the price returns to 3390, take profit at 3370-3360, stop loss at 3400.
Good luck to everyone.
Xauusdtrend
Gold bides its time. Bulls are suppressed at high levels?
Gold is waiting for the Fed's interest rate decision.
analysis in Asian time period:
Gold opened with a sharp drop due to international news, and continued to fluctuate at a high level in the 3360-3400 range predicted by Quaid. I predicted in the early Asian session that the price of gold would rise to around 3390 and then fall back to around 3370-3360. And its trend is just as Quaid predicted and analyzed, with a correction after the predicted high point.
Now it seems that gold has fallen into a high-level fluctuation range after a sharp drop in the early Asian session, which is in line with my expectations. Quaid believes that the trend direction of the European session is very important. The current upward suppression range is between 3400-3415, and the downward support level is between 3360-3370;
On the contrary, if the European session falls below the downward support range, it may continue to fall.
But Quaid believes that the overall upward trend of gold prices has not changed. Gold prices are just accumulating strength now, and will continue to rise after the adjustment.
Overall trend analysis:
Quaid recommends that the long strategy is still the main one. If the support range of 3360-3370 can resist the downward trend, then we can still carry out the long strategy after the price falls back.
Operation strategy:
Long strategy: Go long when the price falls back to 3365, stop loss 3350, take profit range 3400-3415.
Short strategy: Go short at 3395, stop loss 3405, take profit 3360.
Gold price breaks through 3400. Bulls take control?Gold price breaks through the 3400 resistance level I predicted. And there is a trend of continuous rise.
Next, Quaid will comprehensively analyze the current market situation for all traders.
Technical analysis:
From the daily chart, the gold price has broken through the important resistance level and formed a strong upward trend. Currently trading above $3400, it has successfully broken through the key resistance range of $3385-3400. The Bollinger Band indicator shows that the middle track is at 3231.01, the upper track is at 3485.06, and the lower track is at 2976.97, indicating that the current price is near the upper track of the Bollinger Band, showing strong upward momentum.
The RSI indicator shows that the current value is 64.8, which is in the neutral to strong area, and has not yet reached the overbought level, and there is still room for growth.
Quaid believes that in the short term, if gold stabilizes above $3,400, it may hit $3,430-3,450. Once it breaks through, it will open up the possibility of a higher price.
Market sentiment observation:
The current market sentiment is clearly biased towards risk aversion, and global geopolitical tensions have become the main driving force for gold to rise. The continued tension of geopolitical conflicts and political uncertainty in Germany have prompted market participants to seek safe assets. At the same time, expectations for the Fed's future monetary policy shift are also increasing. Although the possibility of a rate cut in May is extremely low, the probability of a rate cut in the June meeting is close to 30%.
Liquidity indicators show that the trading activity in the gold market has increased and institutional funds continue to flow in, indicating that bullish sentiment in the market has the upper hand in the short term. Technical indicators have not shown obvious overbought signals, which means that the current rally still has room to continue. Compared with other asset classes, gold's relative strength is outstanding, especially in the context of the possible challenges to the status of the US dollar as a safe haven asset.
Outlook for the future
In the short term: Gold prices may continue to rise to test the $3,400-3,500 area. The Fed's decision will be a key trigger for gold prices in the near term. If the Fed shows a dovish attitude, gold prices are expected to further break through historical highs.
Medium term: Global geopolitical uncertainty is expected to continue to support gold prices. If geopolitical conflicts escalate further or the situation in the Middle East deteriorates, safe-haven demand may push gold prices to hit the $3,600 level. At the same time, market expectations of a shift in the Fed's monetary policy will be another key factor affecting gold prices.
Long term: From a macro perspective, the current combination of slowing global economic growth and geopolitical tensions will continue to provide support for gold.
After gold falls sharply, how should you trade in the short termAfter gold fell below 3400 today, it ushered in a big decline, falling directly below the key position of 3350. Since gold breaks down, let’s take advantage of the trend and go short
Since the bullish volume of gold market has been released, the bullish trend of gold needs to be repaired in the short term before it can rise further.
Trading idea: short gold near 3347, stop loss 3360, target 3327
The Fed meeting is coming. Will gold fall?Today's news focus:
The US Federal Open Market Committee (FOMC) will announce the interest rate decision;
Fed Powell will hold a monetary policy press conference.
The market generally expects that this meeting will continue to maintain the previous data, because the impact of tariff policies on inflation and the economy still needs to be observed. The Fed's interest rate cut may be carried out in June. Since this interest rate decision does not update the economic forecast, the focus will be on the Fed's incidental comments on any signals of future interest rate cuts to support the economy. Since the decision to keep the interest rate unchanged has been fully digested by the market, Powell's tone at the press conference will be the key to changing the market's expectations for interest rate cuts this year.
Today's gold trend analysis:
At present, according to the hourly chart, gold is still under pressure at the range resistance above 3400; on the one hand, the current tariff storm has cooled down, and on the other hand, the interest rate cut has decreased; and the news data to be released will cause a series of fluctuations in gold in the short term. At the same time, the market is currently betting that the gold price will have a further trend correction, which may cause capital outflows from the market, which will further hit gold bulls.
Quide believes that there is still room for operation in the short term. The resistance level of short-term upward movement is around 3400, but since the game between major powers has not stopped, there will be no major negative factors; if the news data does not fluctuate much, the market may not have a big dive.
Operation strategy:
Short around 3400, stop loss at 3410, and take profit in the range of 3370-3360.
Quide will always pay attention to important news and can provide professional analysis and suggestions for everyone in a timely manner.
I hope to help everyone recover their losses in the gold trading market.
Gold's upward momentum continues. Will gold continue to see an uFundamental analysis:
Tomorrow will see the decision of the Federal Open Market Committee, which may pose a risk to bulls as the Fed is likely to refute the market's aggressive dovish pricing expectations. From a more macro perspective, as the Fed implements loose policies, real yields may continue to fall and gold is still in an upward trend. But in the short term, more positive news on tariffs and a hawkish stance by the Fed may trigger a further decline in gold prices as the market readjusts to the new situation.
Technical analysis:
Gold prices broke through the shock range strongly in the early Asian session, jumping from $3,330 to $3,386, and then slowly fell to $3,350; it climbed again to $3,385 during the European session. The European session did not break through the early high, but there was no excessive retracement, and the European session as a whole maintained high shocks. Looking at the 4-hour chart, the current upward resistance is 3,395, and the support level is 3,350 below. If the upward movement today can strongly break through the resistance level of 3395, the price of gold may reach the high point of 3400-3430.
If the price of gold fails to break through the resistance level of 3395 and continues to fluctuate at a high level, it will prepare for a continuous rise and break through the high.
Operation strategy:
Long strategy: enter the market and do more, and the upward range looks at the high point of 3400-3430.
Short strategy: short at 3410, and the downward position looks at the support range of 3370-3350.
Gold is rising strongly. What is the reason?Analysis of today's market in Asian session:
Last week, the price of gold rebounded to above 3240, the lows were constantly rising, and the highs were broken; such a rebound is tempting traders to short.
In the morning of Asian session, the price of gold rose rapidly from 3320 to 3385 US dollars. In just two days, the price of gold recovered the decline during the Asian holiday. In the current market situation, it is not far away to rush back to the high point. The key to the price increase in the morning of Asian session may also support the European session and the US session. You can use a long strategy during this period.
However, you must pay attention to the continuity of the gold price. If there is an attack in the market transaction, there must be a defense; the downward or upward resistance level must be clear after the breakthrough position, how to operate to maximize the benefits and minimize the losses.
Quaid believes that if gold pulls back, its support point needs to focus on the 3340-3350 range, and the defense position is 3320; the position of the Asian morning rise should be paid attention to. If it falls below this position, you need to adjust the strategy in time.
Quaid believes that the upward trend is currently focused on $3380-3400.
Gold breaks through 3350. Can the bullish pattern continue?In the early Asian session, gold rose rapidly and broke through the 3350 resistance level predicted by Quaid.
Fundamental analysis:
US political developments also add uncertainty to the market. The Trump administration's decision to impose a 100% tariff on imported films shocked the market, and this unpredictable trade policy weakened market confidence. Although the dollar was supported by strong employment data, it still struggled to gain substantial upward momentum, which further supported gold prices.
Economic uncertainty also boosted gold prices. The market generally expects the Federal Reserve to start a rate cut cycle in the near future, which weakens the attractiveness of interest-bearing assets and increases the relative value of non-yielding gold. However, many traders remain cautious and avoid building large positions, waiting for clearer policy signals.
Technical analysis interpretation:
From the monthly chart analysis, gold breaking through the neckline becomes a key trigger point. The pattern measures the depth from the neckline to the bottom of the head and projects it upward, giving a target price range of $3200-3300, which has now been achieved.
In addition, the pattern is not only technically strong, but also psychologically significant. A breakout after a long period of consolidation often attracts new long-term market participants and speculators.
Market Observation:
Current market sentiment is cautiously optimistic. On the one hand, macro uncertainty and risk aversion demand drive funds to the gold market; on the other hand, concerns about the timing and magnitude of the Fed's policy adjustments restrict the willingness of some bulls to take risks.
Quaid Analysis:
Bull Outlook
After the gold price breaks through the 3350 resistance level I predicted, the next target range may point to 3380-3400.
Short Outlook
In the short term, gold may face technical pullback pressure. The main support levels are at 3330 and 3300. If it falls below 3300, it may trigger a deeper pullback to around 3240.
Quaid believes that the market's expectations for the Fed's shift may be too optimistic. If future data show that inflationary pressure remains stubborn or economic resilience exceeds expectations, it may lead to a delay in expectations for rate cuts, thereby putting pressure on gold prices.
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Entry 📈 : "The heist is on! Wait for the Neutral Level breakout then make your move at (3260.00) - Bearish profits await!"
however I advise to Place sell stop orders above the Moving average (or) after the Support level Place sell limit orders within a 15 (or) 30 minute timeframe most NEAREST (or) SWING low or high level for Pullback entries.
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Target 🎯: 3170.00 (or) Escape Before the Target
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As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions,
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Avoid taking new trades during news releases
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Gold bulls are back in force. What is the operation strategy?The gold price has reached the sideways fluctuation range expected by Quid. This matches my morning prediction.
From the 4-hour trend:
Gold has now broken through the first upward resistance level predicted by Quid, and is currently fluctuating slightly in the 3315-3320 range.
The current upward resistance position is around 3330. The lower support is currently located at 3275-85. If gold does not retreat, then the upward trend may test the position around 3350.
On the contrary, if gold chooses to retreat, traders need to pay attention to the 3275-3285 decline range.
Quid believes that as long as gold retreats and stabilizes in the 3275-3285 range, then a long operation strategy can be carried out at this position.
The current upper high is still at 3350. If the upward resistance level of 3350 is broken later, I expect the price of gold to reach a height of 3380-3420.
Gold prices rose rapidly after falling. What happened?Gold prices rose in late Asian trading hours.
In the morning, gold prices stabilized above $3,250 as investors returned to defensive assets due to continued uncertainty in the US trade agreement with China and Japan, and increased geopolitical tensions in the Middle East and Ukraine.
The weak dollar before the Fed meeting and the decline in expectations for rate cuts also supported gold demand. The market focus remains on US trade news and the hawkish stance that the Fed may take this week.
Quaid's analysis of market views:
1. Despite the short-term adjustment in the market, the bullish logic of gold still exists, and bullish investors are more willing to buy when the price is low. The continued volatility of US government policies and the slowdown in US economic growth constitute strong support for gold.
2. During the previous Asian holiday, the gold market fell to the key support of $3,200. After the opening, Yanzhou buyers quickly bought at a low price, causing gold to rise rapidly in the short term.
Quaid believes that from a technical point of view, the gold price has reached the bottom resistance level of the range. If the price of gold does not react to the false breakout and continues to hit 3315-3320, then a breakout and consolidation above this level will strengthen it to 3320-3350.
Upward resistance: 3315, 3320, 3350
Downward support: 3265, 3250, 3220
Since the opening, the price of gold has retested 3269 twice. Buyers are testing the resistance level in the hope of a breakout. If the bulls break through 3315-3320 and consolidate above 3310, the possibility of an upside move will be high. However, the possibility of another test of the liquidity area of 3250 before the upside move cannot be ruled out.
If the price of gold breaks through the upward resistance, traders can try to go long in the short term and conduct scalping.
On the contrary, if the price of gold fluctuates sideways in the 3310-3315 range, Quaid recommends shorting in this range.
Market Analysis: Gold Dips FurtherMarket Analysis: Gold Dips Further
Gold price started a fresh decline below $3,300.
Important Takeaways for Gold Price Analysis Today
- Gold price climbed higher towards the $3,350 zone before there was a sharp decline against the US Dollar.
- A key bearish trend line is forming with resistance near $3,270 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of Gold at FXOpen, the price climbed above the $3,250 resistance. The price even spiked above $3,300 before the bears appeared.
A high was formed near $3,352 before there was a fresh decline. There was a move below the $3,300 support level. The bears even pushed the price below the $3,250 support and the 50-hour simple moving average.
It tested the $3,200 zone. A low has formed near $3,203 and the price is now showing bearish signs. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $3,352 swing high to the $3,203 low.
However, the bears are active below $3,270. Immediate resistance is near $3,270. There is also a key bearish trend line forming with resistance near $3,270.
The next major resistance is near the $3,295 zone and the 61.8% Fib retracement level of the downward move from the $3,352 swing high to the $3,203 low. The main resistance could be $3,352, above which the price could test the $3,400 resistance. The next major resistance is $3,500.
An upside break above the $3,500 resistance could send Gold price toward $3,550. Any more gains may perhaps set the pace for an increase toward the $3,620 level.
Initial support on the downside is near the $3,240 level. The first major support is near the $3,225 level. If there is a downside break below the $3,225 support, the price might decline further. In the stated case, the price might drop toward the $3,205 support.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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Entry 📈 :
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🏁Buy entry above 3060
🏁Sell Entry below 3000
📌However, I recommended to place buy stop for bullish side and sell stop for bearish side.
Stop Loss 🛑:
🚩Thief SL placed at 3020 for Bullish Trade
🚩Thief SL placed at 3040 for Bearish Trade
Using the 30mins period, the recent / swing low or high level.
SL is based on your risk of the trade, lot size and how many multiple orders you have to take.
Target 🎯:
🏴☠️Bullish Robbers TP 3140 (or) Escape Before the Target
🏴☠️Bearish Robbers TP 2970 (or) Escape Before the Target
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Is the gold market ushering in betting?
📌 Gold driving factors
There are two aspects to look at the impact of April non-agricultural data on the gold market.
One is the data itself and the existing economic environment, and the other is combined with the technical aspect.
The market itself is troubled by the tariff issue. Whether it is the US stock market or the US dollar, it needs good economic data to boost it. Once the April non-agricultural performance is poor, the market sell-off will be out of control, and it also means that the risk of US economic recession is increasing.
Secondly, good data performance reduces the Fed's expectations for rate cuts. As we all know, the Fed's expectations for rate cuts or rate cuts are theoretically good for gold prices, and vice versa.
The cooling of the tariff issue may come soon, which is also not conducive to the rise in gold prices, but cooling does not mean the end, and the final achievement will definitely take some time.
📊Comment Analysis
"After experiencing short-term fluctuations, the price of gold appears to be relatively stable around $3,250. If it is to rise further, it must break through the $3,300 mark. But whether the market is ready to break through this point remains to be seen."
At present, gold is still in a continuous adjustment trend. Although it retreated to the 3,200 line on Friday and then rose again, it is still under pressure below the opening of the 3,265 decline. This is also the pressure level we need to pay close attention to next Monday!
The sideways trading period on Friday is long enough, and it is time for a breakthrough. So how should we arrange the market next week? It should not rise, but it will fall instead. It is not difficult to understand the trend on Friday. If it rises in the morning next week, it should be noted that the upper 3,265 is the watershed. If it breaks through, it will continue to rise, but if it is still under pressure, it is our opportunity to enter the short position!
💰Strategy Package
Operation ideas for next week:
Short at 3265 gold, stop loss at 3275, target 3230-3220;.
The market fluctuates violently, and real-time entry and exit are mainly based on real-time guidance!
⭐️ 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
XAU/USD (Gold) Analysis 2/5/20251. XAU/USD recently recorded an all-time high (ATH) at the 3150 level.
2. Following a healthy retracement, we are now eyeing potential long opportunities near the 3100 zone.
3. The 3100 level presents a favorable risk-reward entry point, aligned with historical support.
4. Market sentiment remains bullish, supported by strong fundamentals and ongoing geopolitical tensions.
5. A breakout above the previous ATH could open the door for a continued rally toward higher resistance levels.
6. Our upside targets for this move are in the range of 3450 to 3500, offering considerable profit potential.
7. Price consolidation near 3100 indicates accumulation, reinforcing the long bias.
8. We anticipate renewed buying pressure as the market tests key psychological and technical levels.
9. Risk management will be crucial, with stops ideally placed just below the 3050 support region.
10. Overall, this setup offers a compelling long trade backed by technical structure and market momentum.
Gold is still in a weak phaseIn terms of news: international tensions have eased recently, the United States may reduce tariffs on Chinese goods, Russia-Ukraine peace talks have made progress, market demand for hedging has weakened, and funds have shifted from gold to risk assets. At the same time, the mining agreement between the United States and Ukraine boosted the U.S. dollar in a short period of time. The U.S. dollar index strengthened and broke through the 100 mark. The appreciation of the U.S. dollar caused the relative depreciation of gold and suppressed the price.
Technical aspects: From the current market, gold is in a downward trend in the short term. In the short term, we should first pay attention to the suppression of 3260 US dollars on the top. Pay attention to the gains and losses of 3200 yesterday on the bottom. If it falls below 3200, it may further go to 3167.
Trading ideas: Short gold near 3260, stop loss 3270, target 3240
Gold 3213 and 3272 are space switching points
📌 Gold information
The US non-farm payrolls report released this Friday (May 3) will become a market vane. If the employment data deteriorates significantly (such as the sharp drop in private employment growth shown by ADP), it may strengthen the expectation of interest rate cuts and promote the rebound of gold; on the contrary, if the data is stable, the US dollar may further suppress the price of gold.
The intraday decline in gold prices seems to be partly driven by technical selling pressure, after gold prices decisively fell below the key support level of $3,265-3,260. However, due to the unexpected contraction of US GDP and the intensification of signs of slowing inflation, the market's expectations for further interest rate cuts by the Federal Reserve (Fed) have increased, and the US dollar (USD) has found it difficult to maintain any significant rebound.
📊Comment Analysis
Gold price rose strongly by $544 in April. It entered the mode of space sweeping and adjustment from the confirmation of 3500. The next move is to sweep the range of the large range, starting at at least $40, and the range is $100, sweeping back and forth
💰Strategy Package
🔥Sell gold area: 3270-3272 SL 3277
TP1: $3260
TP2: $3250
TP3: $3240
🔥Buy gold area: $3178 - $3176 SL $3171
TP1: $3185
TP2: $3200
TP3: $3210
⭐️ 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
The gold market fluctuated sideways. Waiting for a new trend?OANDA:XAUUSD During the Asian trading session, gold prices maintained a slight decline; in the early European trading, gold began to fall sharply, but it was still within the trend range expected by Quaid.
Today, the initial value of the US real GDP in the first quarter of 2025 will be released, and it is expected to grow by 0.3% at an annualized quarterly rate, after a strong growth of 2.4% in the fourth quarter of 2024.
If the world's largest economy unexpectedly shrinks, it will re-ignite bets on a sharp interest rate cut by the Federal Reserve. And this data will boost the upward trend of gold.
On the other hand, if the cooling of US economic growth is less than expected, it may bring a short-term relief to the overall market and the US dollar, which will continue to put gold under corrective downward pressure.
However, traders will remain cautious before the release of US ADP employment data this week; this data will limit the reaction of gold prices to GDP data. US non-farm payrolls will help the market assess whether US tariffs have had a substantial impact on the labor market.
Current trend analysis:
The daily line closed negative, and it is still bearish today. At the same time, yesterday's decline encountered 3300 support. In this pattern, regardless of today's strength, short once and see how the European session trends. If the European session falls, short the US session; if the European session rises strongly, the US session may remain volatile. If the European session breaks the downward channel, the US session may continue to fall.
Hi guys, if you want a solid trade, please wait for the US GDP data this morning. Quaid conducts gold trading after professional analysis.
Key intervals and trend judgmentKey range and trend judgment:
The current gold price is in a narrow range of 3300-3305 support zone and 3325-3330 pressure zone. Technical analysis:
1. Support logic:
- 3300 is an integer psychological barrier, which coincides with the MA60 moving average (dynamic support) of the 1-hour chart;
- After hitting the bottom of 3300 several times recently, it rebounded and formed a short-term bottom structure.
2. Pressure logic:
- 3330 is the upper rail resistance of the Bollinger band on the 4-hour chart, and it is the previous high-intensive trading area;
- The top divergence signal appears at the MACD daily level, suppressing the upward space.
3. Volume characteristics: Shrinking volume oscillation, need to wait for breakthrough and large volume to confirm the direction.
Trading strategy and operation plan
1. Buy low and sell high within the range (short-term)
Long position strategy:
Entry point: 3300-3305 range (price retracement does not break, and 1-hour chart RSI <30), try long with a light position. Take profit target: 3315 (first target), 3325 (second target) Stop loss 3292 (break through the previous low support).
Short position strategy:
Entry point: 3325-3330 range (price touches pressure and falls back, 15-minute chart MACD dead cross), try short with a light position, take profit target: 3310 (first target), 3300 (second target); Stop loss: 3338 (break through the previous high pressure).
2. Follow the trend after the breakthrough (trend following) Upward breakthrough (stabilizing 3330): Pursue long signal: the price breaks through 3330 with large volume and then falls back without breaking, the target is 3350-3360 (previous high of the daily line);
Stop loss: 3320 (below the breakthrough point).
Downward break (falling below 3300): Pursue short signal: the price falls below 3300 and the pullback confirmation is invalid, the target is 3280-3260 (weekly MA20 support); Stop loss: 3310 (above the break point).
Pattern interpretation:
- The 4-hour chart converges in a symmetrical triangle, and the theoretical target after the breakthrough is the height of the triangle ; If it breaks upward, the target is 3350; if it breaks downward, the target is 3270.
Volume coordination: When breaking through, the trading volume needs to be enlarged by more than 20%, otherwise be alert to false breakthroughs.
Gold is in the stage of oscillating and choosing direction in the short term, and the strategy is mainly to sell high and buy low within the range + follow the breakthrough.
Gold still has a chance to reboundCurrently, gold's bulls and bears are still oscillating within a large range. The key pressure above and the upper edge of the range are maintained near 3365-70, while the lower edge of the large range and the support are maintained near 3260. It is very likely that there will be multiple shocks and choices within this range again.
Gold retreats to around 3302-00 during the day, go long, target around 3330-50, stop loss 3295.
GOLD / XAUUSD: Analysis Daily!🔷 BUY XAUUSD: 3298/3300 (swing)
- Stoploss: 3293
- Target: 3310 / 3320 / 3330 / 3350
*Signals are for reference only, not recommended to be followed!*
Analysis: XAU/USD has a neutral-to-bullish near-term outlook. On the 4-hour chart, it's struggling with a flat 20 SMA, while the 100 and 200 SMAs are risin. Indicators are improving but still weak and in negative territory.
Support levels: 3314 - 3301
Resistance levels: 3344 - 3358