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Extremely weak and directly emptyIn addition to the Federal Reserve downplaying interest rate hike expectations and improving economic data, the recent rise in the U.S. dollar has also been fueled by the weak declines in the non-U.S. euro and the pound. Raising and lowering interest rates have become the trigger for global currency depreciation. The Federal Reserve still hints at a dilemma. If the authorities want to be re-elected, it cannot just cause inflation to rise and the economy does not improve. So who will elect him? So now inflation will be maintained for you. The hype continues in one area. At the same time, economic data must continue to report, making the economy prosperous under the government, and at the same time building momentum for the election, so the recent rise in the US dollar is also more necessary. There was no greater expansion of the situation over the weekend, there was no risk aversion, and gold opened lower. Nowadays, the market has become a rollercoaster with wide fluctuations. As long as you don’t chase the rise and fall, there is a high probability that there will be profit opportunities in both the long and short positions, and the fluctuations are 30 to 60 US dollars. In the past, everyone looked forward to the non-agricultural market every month, but now it is almost every day. , with such big fluctuations, the range and space of long and short changes have increased. Even if you talk about technology, the long and short news in the market will magnify the fluctuations at any time, and it is nonsensical. In general, gold bulls are still following the risk and hedging. They repeat the adjustment every morning in the European market, and then the US market turns V to recover in the middle of the night. Even if it falls, it can recover quickly. So today's operation is relatively simple, and talking about technology now is pale. Yes, it's nothing more than controlling the rhythm and position, it's about looking in one direction. After the opening of this trading day, the market price continued to fall, and 2360 failed to play a supporting role. Pay attention to several aspects for the day's layout. First, we have always emphasized the correction of the current market positioning. Continuous and repeated detours are to respond to the previous rise. The correction of the form has a solid range, suppressing 23600 and supporting 2320. We do not think that the correction rhythm is interrupted until either side is broken. The next operation is relatively simple. After the unilateral decline in the morning, the gold price did not give any chance to rebound, not even a rebound of 8 US dollars. We can basically judge that the market is extremely weak. In this case, We will not consider any long-order strategies. All long orders should be held down. The operation is mainly high-altitude, and you can even directly pursue short positions. The support below focuses on the 2330 line, and the support above is also suppressed at 2350. Continue to go short after rebounding at 2350, stop loss 56, target 2340-30. The current price has reached the strong support position of 2330 line, 2330 line can be long, stop loss is placed at 2325, target 2350-60. If the 2325 line continues to fall below, Then any long orders will not be considered, and the lower target will be to test 2300.
OANDA:XAUUSDShort
by Professional-Trading-Plan
1
4.23 gold platform diving tests key support!During the European trading session on Tuesday (April 23), gold continued its downward trend from the previous day. Spot gold remained volatile after falling sharply in the Asian session, falling to an intraday low of $2,295.49 per ounce. As concerns about conflicts in the Middle East have eased, boosting investor risk appetite and reducing safe-haven demand for gold, and as the market turns to expectations that the Federal Reserve may delay interest rate cuts, more bulls are taking profits as gold prices pull back. . U.S. interest rates remain high, reducing the appeal of non-yielding assets such as gold. Today's economic data may influence the Federal Reserve's interest rate decision, which may affect gold price trends. A stronger U.S. dollar and expectations of continued high U.S. interest rates are putting additional pressure on gold prices. The Fed's hawkish stance on lingering inflation concerns could keep interest rates higher, which typically reduces the appeal of non-yielding assets like gold. Today's economic calendar features several important U.S. data releases that could impact spot gold trends. The manufacturing PMI preview value is expected to improve slightly from 51.9 to 52.0. The preview service PMI is also expected to rise from 51.7 to 52.0. The release of U.S. new home sales data, which is expected to rise from 662,000 to 668,000, provides further insight into the economic backdrop. Another indicator, the Richmond Manufacturing Index, is expected to improve to -7 from -11, indicating a possible recovery in manufacturing activity. These data points will provide valuable insights into the broader economic environment, influencing the Federal Reserve’s policy decisions and, therefore, spot gold price forecasts. Recent developments suggest a cooling of rising geopolitical tensions between Iran and Israel, mitigating the immediate threat of escalating tensions. This shift has led to a decline in the risk premium historically associated with gold during times of geopolitical uncertainty. Iran's apparent lack of immediate retaliation for the Israeli attack played a key role in this dynamic, encouraging people to move away from safe-haven assets. ​ 4.23 gold market trend analysis: Gold technical analysis: Spot gold prices continue to fall. Spot gold fell below the 2,300 mark in the morning for the first time since April 5, falling more than 1% on the day. Looking at gold's daily line, gold previously shot up to around US$2,431 and then fell sharply back to nearly US$100. Although it subsequently rebounded, it was blocked near 2,400 until it was affected by Israel's attack on Iran last Friday and once opened to around 2,417. , and finally closed at the 2390 line. Gold failed to reach a new historical high. It continued to fall at the opening of this Monday, with a sharp drop of 60 US dollars, and closed a big negative line. The moving average and MACD simultaneously formed a dead cross state. Gold 2331 and 2417 have already formed. The top shape shows a stepwise decline in the 4-hour chart. The high point is constantly moving downwards. The Bollinger Bands are opening downwards. The moving averages continue to cross downwards and diverge. The short trend is obvious. Overall, the trend is still bearish. It is expected to test the 2300 mark first. support, followed by support near 2265. At the opening today, there were two more market crashes, falling below the early support of 2319 and even reaching below 2300. This unilateral market has gone nearly a hundred points. Now looking at the four-hour level, on the 4-hour chart, the price of gold has been showing a downward trend under pressure since it fell back from the high of 2417. Gold prices further extended their losses. The MACD indicator's double-line dead cross operation process has crossed the 0 axis and entered the weak area, which further verifies that the current trend is dominated by the short side. In this situation, investors should pay close attention to the pressure effect of the two moving averages MA5 and MA10. These two moving averages may become an obstacle to the rebound of gold prices. During the correction of the gold market, investors should remain calm and should not blindly chase short positions. In early trading today, gold fell below the short-term long-short conversion point of the 2318 line, which means that the key short-term bull support for gold has been broken, and gold is expected to further deepen its correction. Therefore, 2318 has now become the pressure level for gold, while the next support level will move down to the 2250-2265 area. On the whole, today's short-term operation of gold, I suggest shorting mainly on rebounds, supplemented by longs on callbacks. The top short-term focus is on the 2318-2324 first-line resistance, and the bottom short-term focus is on the 2260-2250 first-line support.
OANDA:XAUUSD
by Professional-Trading-Plan
Potential Sharks However...XAUUSD Potential Outcomes.... Price is sitting in a strong daily supply zone and is breaking structure to the downside on the LTF, However the USD is still falling giving gold strength, because of rising inflation this could push Gold higher and if gold breaks the daily demand I will be then looking for retest and buys. Normally this would be a high probability set up for a sell but because of the situation with the USD anything can happen, as you saw the other day, so right now I'm sitting back and waiting for golds next move. (We also have USD news today) Whats your thoughts?
OANDA:XAUUSD
by benalistarfx
1