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Xauusdtrend

Gold points to 3400, madness before data release.Market analysis: Gold fell slightly to around 3361 in early trading on Wednesday. After falling to around 3346, it quickly rose to around 3372, then was blocked and fluctuated and fell. It fell to 3344 in the European session and then rebounded. It rose strongly to 3384 in the US session and fluctuated above 3370 in the late trading. The daily line of gold showed a trend of alternating yin and yang. But the overall trend was upward. The 5-day moving average and the 10-day moving average formed a golden cross and extended upward, which provided moving average support for the gold price, allowing gold to maintain a strong and volatile trend. At present, the 5-day moving average is around 3352, and the 10-day moving average is around 3335. The first thing to pay attention to is the resistance of Tuesday's high of 3392. If the gold price can break through this resistance level, it is expected to continue the bullish trend. In terms of points, first pay attention to the support near MA5/MAA10 below, and focus on the support of MA20 moving average. The downward exploration on Tuesday and Wednesday both defended the MA20 moving average position. Above this, it is treated as a strong shock. Secondly, pay attention to the support near 3335, which is the low point on Tuesday and the key to the short-term structure. Secondly, pay attention to the support near 3335, which is the low point on Tuesday and the key to the short-term structure. First pay attention to the resistance near 3395 above, and then pay attention to the resistance near 3415 and 3430, which are the previous high points. Operation strategy: Short near 3395, stop loss 3410, profit range 3380-3360 Long near 3360, stop loss 3350, profit range 3375-3380-3390-3400.
OANDA:XAUUSD
by Quaid-1
Gold fluctuates. It is expected to retreat.Gold continued its strong performance on Monday in the early trading yesterday and reached a high of around 3391 before starting to fall all the way. It was weak and downward in the European trading. The US trading quickly fell back to around 3335 and then rose again. However, it touched the 3372 line again in the morning and continued to fall, forming a large range of fluctuations. Affected by the ADP data, although the positive impact is large, it is very likely to be just an illusion given to the market, not to achieve a strong effect. The key pressure position above is maintained at around 3360, which may play the role of a watershed between long and short positions, and the strong pressure above will also be maintained at 3365; the support position below is around 3340. Once this position is broken, the room for decline may be expanded in the later period. Although the MA5-day and 10-day moving averages have the intention of forming a golden cross, they have not completely released the energy of the bulls, making the market more unpredictable for the bears. In the correction of the bulls' strong upward movement, there was no further effort. Perhaps this is one of the signs of bull exhaustion. The current channel position formed from 3391 also gives the bulls enough pressure. Only by breaking through this position again can a strong upward trend be achieved. Operation strategy: Short near 3360, stop loss 3370, profit range 3345-3330.
OANDA:XAUUSD
by Quaid-1
Asian session main long and auxiliary short operation 📣Gold information There are two main reasons for the rise in international gold prices: First, global trade frictions have intensified. Trump said that he would raise tariffs on steel and aluminum. The EU strongly opposed it and prepared to implement countermeasures. Brazil is also ready to counter, and the market is worried that the United States will resume the "big stick" of tariff policy; second, in terms of geopolitical conflicts, the market is worried that the conflict between Russia and Ukraine will escalate again. Overall, the medium- and long-term rise in gold has not changed, and there is still uncertainty as to whether it can successfully break through the resistance level in the short term. 📊Comment analysis Today, we need to pay attention to the support effect of the moving average. The current 5-day moving average is near 3340, and the 10-day moving average is near 3325. These two positions constitute important support areas for the short-term correction of gold prices. In terms of upper resistance, pay attention to yesterday's high of 3392. If the gold price can break through this resistance level upward, it means that the upward momentum is strong, and it is expected to continue the strong trend and further open up the upward space. In terms of points, pay attention to the support near yesterday's low of 3333 below, and the resistance near 3360 and 3370 above. 💰Strategy Package 🔥Sell Gold Zone: 3365-3370 SL 3375 TP1: $3355 TP2: $3340 TP3: $3325 🔥Buy Gold Zone: $3325-$3330 SL $3320 TP1: $3345 TP2: $3355 TP3: $3365 ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds
OANDA:XAUUSDShort
by Labaron
1
Gold-Asian market rises, what is the trend?Event summary: On Wednesday in the Asian market, spot gold fluctuated slightly and is currently trading around $3,370/ounce. There are two reasons for the strong rise in the Asian market: 1. Ukraine directly blew up 41 Russian fighter jets; 2. The tariff storm re-emerged, and Trump is expected to impose a 50% tariff on steel and aluminum. The tense international situation and tariff storm have become important factors that disrupt the market. Market analysis: The four-hour chart shows that the current price is still running above the middle track of the Bollinger Band channel, and the MA10-day moving average and the 5-day moving average are running above 3,340. Due to the wide fluctuations in the market, short-term participation is the main option. Intraday callbacks are still mainly low and long. Gold rebounded directly in the early trading, and the center of gravity of the low point of the rebound is also constantly moving up. From the current market, the short-term gold price has stabilized above the top and bottom conversion position of 3,340, and it also remains above the rising trend line, and the bulls are strong. In the early trading, the gold price fell back to the lowest level of 3346, and it formed a Yang-enclosing-Yin pattern, which means that the bulls' energy is relatively strong. We only need to pay attention to two points in the early trading, namely the key level of 3330 and the short-term support level of 3346. If it falls back to around 3350 during the trading session, we will start to go long. Operation strategy: Short at 3375, stop loss at 3385, target 3340-3320; Long at 3345, stop loss at 3333, target 3370-3400;
OANDA:XAUUSD
by Quaid-1
Gold prices have fallen back, so it's time to take action.I reminded all traders in the morning to be alert to the risk of gold falling back today. Now it has successfully reached the point I predicted in the morning; it's time to adopt a long strategy. From the daily chart of gold: The current price has fallen back to around 3335, which happens to be the support position of the daily trend line. This is why we are bearish on gold. As long as the US stock market closes above 3335, gold will still be in a long trend. On the contrary, if it falls below the closing line of 3335 today, it will break the trend line, and the subsequent market may be more complicated. Therefore, the current operation can adopt a long strategy. Long positions are entered near the support level. If gold once again stabilizes above 3,400, then there is a possibility that it will reach a new high. Operation strategy: Enter the market at the current price, stop loss 3330, profit range 3350-3365.
OANDA:XAUUSDLong
by Quaid-1
1
Prices exploded. Beware of falling support.Information summary: Russia and Ukraine held a second round of peace talks on Monday. The two sides only agreed on the exchange of prisoners. No breakthroughs have been made on the proposed ceasefire agreement that Ukraine, its European allies and Washington have called on Russia to accept. Umerov said Ukraine proposed more talks before the end of June, but believed that only a direct meeting between Zelensky and Putin could resolve the differences between the two sides on several key issues. Secondly, Trump's tariff issue has escalated global trade tensions, and the intensification of the Russian-Ukrainian conflict has also caused geopolitical risks to rise rapidly. Market analysis: Gold has stretched directly from 3290 at the beginning of the week to a high of 3391, a $100 increase. From the perspective of the daily gold line, it is indeed in a bullish trend, breaking through several important pressure levels. But I think all traders need to be wary of chasing more at high levels. The daily trend of gold started from 3120. 3120-3365 is the a wave, 3365-3242 is the retracement of the b wave. So the current trend from 3242 is the rise of the c wave. After breaking through 3340 on Monday, gold has reached 3396 near the 618 position. At present, if gold cannot stand above 3400, it is very likely to maintain the consolidation in the 3396-3340 range. Especially before the release of non-agricultural data this week, such a large fluctuation range. Be sure to be alert to the possibility of continuing to fall back to the support of 3340-3330. Operation strategy: If the price falls back to around 3340-3350, go long, stop loss at 3330, and profit range at 3370-3380. Of course, if you prefer aggressive trading, you can choose a short strategy at 3370-3380, stop loss at 3390, and profit range at 3340-3330.
OANDA:XAUUSD
by Quaid-1
After the price surge, has the trend of gold changed?Gold opened slightly higher in the Asian morning on Monday and then rose. It basically maintained a slow and volatile rise throughout the day. It rose to around 3383 before the close, and the daily line closed with a big positive line. The current 5-day moving average and the 10-day moving average form a golden cross and extend upward. This signal indicates that the short-term trend is strong. In the short term, we need to focus on the moving average support. The 5/10-day moving average support is in the 3330-3325 area. As long as the price remains above this area, it can be treated as strong. The upper resistance level needs to pay attention to the previous secondary high point of 3438. In terms of points, the lower support level first looks at around 3360, which is the previous high point of the short-term. After breaking through, we need to pay attention to the top and bottom conversion. The second is the 3330-3325 area support. Pay attention to the top and bottom conversion. If the price falls back strongly, we need to pay attention to the 3300 mark support. This is the current support area of ​​the trend line formed by the low point connection of gold since the rise of 3120. The upper resistance level is around 3410, followed by the resistance in the 3448-3458 area. This area is the current resistance area of ​​the rising channel formed by the high point since the rise from 3120. Operation strategy: Short at current price, stop loss at 3390, profit range 3360-3340; Long at price drop to around 3340, stop loss 3325, profit range 3345-3360.
OANDA:XAUUSD
by Quaid-1
Gold surges, what is the subsequent trend?Weekly chart analysis: From the weekly chart, gold has been pushed upward for five waves from the starting position of 1614. The current market is in the extended wave of wave 3. Gold has adjusted downward from the high point of 3500. The current market is divided into two situations. In the first case, assuming that the high point of 3500 has completed the 3rd wave, then 3500 will adjust downward for 4 waves. The three-wave ABC structure within the 4th wave regards 3500-3120 as wave A, 3120 upward as wave B, and there is another wave C decline after wave B to complete the 4th wave adjustment, and then the 5th wave will rise. Therefore, after the market rises, pay attention to the C wave decline at any time. In the second case, assuming that the 3rd wave has not been completed yet, 3500 is still in the internal adjustment of the extended wave of wave 3. At present, the three-wave ABC adjustment of 3500-3120 has ended, and a new round of upward rise from 3120 may complete the last wave of the 3rd wave. Therefore, after the market rises above 3500, it will face the 4th wave decline at any time. Hourly chart analysis: In the 1-hour chart, no matter how the market operates, the current market trend is in a state of shock. Affected by the increased risk aversion due to the weekend news, the market rose sharply after opening on Monday. So what will the trend be after the surge? I think that after the rise, try not to chase the rise, but look for high positions to short, and wait for the market to adjust downward before going long. Operation analysis: Currently, the upper resistance is 3385-3405, and the lower support is 3350-3330. Short-term operation suggestions: short at the high point area of ​​3385-3395, stop loss at 3410, profit range 3360-3350, and continue to look down at 3330-3320 if it breaks. It is recommended to continue to look above 3400 if 3350 is not broken.
OANDA:XAUUSD
by Quaid-1
Gold is rising strongly, waiting for a breakthrough.Gold prices soared after the Asian market opened, reaching an intraday high near 3363. However, today's market is also affected by many black swan events. Event summary: On the eve of the ceasefire negotiation between Russia and Ukraine, Ukraine attacked a Russian military base with a drone; the United States said it was unaware of the incident. Trump made a statement saying that China violated the relevant provisions on trade tariffs, and then the US Treasury Secretary said: The United States will never default. This news has worsened Sino-US trade relations. Due to the sudden black swan event, the sentiment for gold as a safe-haven asset has rapidly heated up, and the price of gold has skyrocketed in the Asian market. At present, due to the impact of international events, the price of gold has calmed down after the correction, and is currently consolidating around 3355. The 1-hour chart shows that the 5-day MA moving average is currently flat, but the 10-day and 30-day MA moving averages have turned sharply and are on an upward trend, so I think that the current rise in gold has not yet reached its peak. Market analysis: The support level in the Asian morning session is around 3300, and the gold price has successfully stood above 3330, and the lower support has also moved up to around 3330; the intraday gold price has a very small retracement, and it is still breaking through the upper side. It is currently trying to break through the cycle suppression level of 3365. After a strong breakthrough, it will reach the cycle high point of 3370. If it fails to break through strongly, the price will fall below 3365 and may touch the current support level of 3330. Operation strategy: Buy near 3345, stop loss 3335, target range 3360-3370.
OANDA:XAUUSDLong
by Quaid-1
1
Trade conflicts are re-emerging, will gold rise?Information summary: Gold prices rose slightly in early Asian trading on Monday, affected by the long-term uncertainty of tariffs and international geopolitical conflicts, which increased the demand for safe-haven assets. Trump made a statement earlier that China had violated the Sino-US trade negotiation regulations in a big way; then the US Treasury Secretary assured that the United States would never default. This has once again led to tensions in Sino-US trade relations, and investors are also cautious about this news. This news has undoubtedly disrupted the international market and supported the rise in gold prices. Traders need to pay attention to the May ISM manufacturing report to be released by the United States today, which may affect the new trend of gold. Trading analysis: I think the repeated emotions of the United States on tariffs will cause gold prices to rebound after a downward adjustment, and then fall slightly. If gold cannot break through the upward 3350 cycle pressure level strongly and stabilize above this position. Then the price will fall back below this position. Operation strategy: Long at 3340, stop loss at 3330, take profit at 3350. Short at 3350, stop loss at 3365, profit range is around the early support level of 3300-3390. If you want to trade steadily, you can continue to wait and see for some time, because there are too many black swan events in the Asian market today, and the market is full of uncertainty.
OANDA:XAUUSD
by Quaid-1
The international situation is turbulent, how is the trend of goInformation summary: On June 1, Russia and Ukraine continued to clash. Ukrainian drones attacked several Russian military airports, including military bases in eastern Siberia, more than 40 aircraft were damaged, and the loss was about 2 billion US dollars. This was the first time that a military base in Siberia was attacked by a drone. Murmansk Oblast was also attacked by a drone on the same day. However, on the same day, Russia and Ukraine planned to hold a second round of ceasefire negotiations in Istanbul on June 2. The United States said that it was not informed of the Ukrainian attack in advance. Russia and the US Foreign Minister discussed the negotiation plan by phone. The Hungarian Prime Minister revealed that the mediation in 2024 was unsuccessful, and the two sides had obvious differences on the timing of the ceasefire. The current situation is complicated, the prospects for peace talks are unclear, and market risk aversion and economic data (this week's employment report, central bank interest rate decision, etc.) have become new focuses. Gold trend analysis: From the daily chart, the current daily support position is around 3280. This position is the key to the gold band trend. Since the price has broken upward recently, it has stepped back many times and finally closed above the daily support, so the position of the daily support is still the key. Before falling below this support level, the price will most likely maintain a range of 3320-3280 US dollars. Operation strategy: Buy near 3280, stop loss 3270, profit position 3320.
OANDA:XAUUSD
by Quaid-1
The dollar is strong, will gold break through the consolidation?At the beginning of this week, the US dollar index fell to a one-month low due to Trump's sudden change in the direction of the EU policy. Subsequently, due to the contest between Trump and the US Trade Court ruling, the prices of gold and the US dollar fluctuated greatly. I think the US dollar will start to rise next week with the help of non-farm payrolls data. I am afraid that a new round of price fluctuations is coming. If the US dollar is to have a new upward trend in June, gold will also be affected. Judging from the current daily line of gold, the overall trend is also to be adjusted downward. The high point of gold in May was 3438, and the low point was 3120. I also drew the Fibonacci dividing line in the figure. The most critical position is 3317 at the 0.382 position and 3280 at the 0.5 position. Gold is still maintaining a consolidation of 3317-3280. Although there have been breakthroughs above and below, they are all within the daily range. Next week, as long as gold can close below 3280 on the daily line, it will start a correction trend step by step. The first target below is around 3250, and the second is 3180-3200. As long as the daily line of gold can close below 3180, then we will usher in a big bearish trend at the daily level. On the contrary, the daily line of gold cannot close above 3317 again. In a better situation, it may touch around 3340 again and then retreat again. The bad result is that it directly breaks through the pressure level and stands above the 3340 trend line. If this happens, the price of gold may move towards a new high.
OANDA:XAUUSD
by Quaid-1
Technical Analysis → Gold will remain stableThroughout May, the news backdrop, including international trade tariffs and geopolitical turmoil, led to a technical peak of around $3,430 and a low near $3,130 in gold. As of now, the price per ounce is stable at around $3,300, roughly the same level as at the beginning of the month. This shows that supply and demand forces are basically balanced, and prices are maintained between these two extremes. Gold technicals further confirm this and highlight the importance of the $3,300 level. Bearish perspective: The A→B→C→D→E sequence forms a peak high and a cycle low, which is a clear downtrend signal. The trajectory is marked in red, and the upper line constitutes resistance. Bullish perspective: Since the beginning of 2025, the price of gold has been in an upward trend, represented by the blue channel, and its lower boundary constitutes key support (marked with arrows). It is worth noting that these support and resistance lines are converging, forming a narrowing triangle. This shows that supply and demand are balancing and the market has reached a consensus around the $3,300 level, which is exactly the central axis of the triangle. Based on this, we can reasonably assume that the technical side of gold in June may continue to fluctuate within this triangle unless a special event occurs that causes a significant break in the current balance.
OANDA:XAUUSD
by Quaid-1
Gold price rebounded. Strategy is coming.Gold rose yesterday under the stimulus of risk aversion; gold did not continue the upward trend today, which means that the risk aversion sentiment of gold has been digested. The 4-hour moving average of gold formed a dead cross, and MACD also formed a dead cross. Then gold is likely to maintain the morning support position near 3290 for oscillation. I think we can continue to short after gold rebounds. After the opening of the US market, the rise of gold has been under pressure at the 3310 line and cannot break through. Gold rebounded under pressure at 3310 and continued to short on rallies. The market situation is changing all the time. We cannot always use the same trading strategy. If the price fails to rise, we will implement a short strategy; in line with the changes in the market, we can make profits faster. Operation strategy: Short near 3305, stop loss 3315, profit range 3270-3260.
OANDA:XAUUSDShort
by Quaid-1
Data is out. Gold is fluctuating.Information summary: On Wednesday, US time, the Trade Court ordered an immediate halt to tariffs; the next day, the Federal Court of Appeals immediately resumed the policy. At the same time, the Trade Court was required to respond by June 5, and the government by June 9. Tariff policies are back and forth, and it is difficult to figure out. In other words, don't expect the US government to come up with any good news. Today, the annual rate of the US core PCE price index in April was 2.6% in the previous value and 2.5% in the expected value. The expectation seen at the beginning of the week was 2.6%. Now the expectation is directly lowered. Is it to leave room for this announcement? If the increase is not higher than the previous value, it is not a significant increase, but it leaves room for interest rate cuts. For gold, the increase is not higher than the previous value, and the short position is limited. This mediocre data can directly provide a basis for speculation on the current economic situation in the United States. After yesterday's strong rise, with a very long lower shadow left on the middle track of the Bollinger Band, after stabilizing the middle track, the fast and slow lines further converged and flattened, indicating that the main funds are also hesitating. From this perspective, today's market may continue to fluctuate within the middle track. At the same time, the closing line is also the most critical, which is around 3285-90 near the middle track. Operation strategy: Today's trading needs to pay attention to the cycle suppression position of 3315-3330 on the upper side, and the cycle support level of 3385-3380 on the lower side. This range can be maintained for scalping trading. If the gold price breaks through strongly upward or downward, the new trend will be realized in a very short time, so traders need to make profits and stop losses in time.
OANDA:XAUUSD
by Quaid-1
XAU/USD Chart Analysis: Gold Price Stabilises Around $3,300XAU/USD Chart Analysis: Gold Price Stabilises Around $3,300 Throughout May, a turbulent news backdrop — involving both international trade tariffs and armed conflicts — led to the formation of a peak around $3,430 and a low near $3,130 on the XAU/USD chart. As of today, the price per ounce stands around $3,300 — roughly the same level as at the beginning of the month. This suggests that supply and demand forces are largely balanced, keeping the price contained between these extremes. The XAU/USD chart provides further confirmation, emphasising the significance of the $3,300 level. Technical Analysis of the XAU/USD Chart From a bearish perspective: The A→B→C→D→E sequence forms lower highs and lower lows — a clear sign of a downtrend. This trajectory is marked in red, with the upper line acting as resistance. From a bullish perspective: Since the beginning of 2025, the gold price has been moving in an uptrend,indicated by a blue channel, with its lower boundary serving as key support (highlighted with arrows). Notably, these support and resistance lines are converging, forming a narrowing triangle — an indication that supply and demand are balancing, finding consensus around the $3,300 level, where the axis of the triangle lies. Given this, it is reasonable to assume that in June, the gold price on the XAU/USD chart may continue to fluctuate within this triangle — unless an extraordinary event causes a significant shift in the current balance. 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.
FXOPEN:XAUUSD
by FXOpen
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
XAU/USD Awaits PCE Catalyst – Rejection or Breakout?Gold prices are trading around $3,297 after rejecting the $3,324 resistance zone. The market is currently showing signs of exhaustion near a minor resistance, and price action suggests a potential short-term pullback. Attention now shifts to today's U.S. Core PCE data, a key inflation metric for the Fed, which may dictate near-term direction and shape the monthly close. OANDA:XAUUSD TVC:GOLD Gold tested the $3,324 resistance area but failed to break higher, forming a lower high. A potential bearish setup is developing as price reacts to minor resistance around $3,310. If bears regain control, a drop toward the key support level at $3,240 is likely. A break below this level could open the door to further downside in the upcoming sessions. Conversely, if bulls manage to reclaim $3,324 and establish a strong daily close above, we could see a retest of $3,350 and higher. Key Event Today: At 8:30 PM GMT+8, the U.S. will release April's Core PCE Price Index – the Fed’s preferred inflation gauge: MoM: Expected at 0.1% YoY: Expected at 2.5% (Previous 2.6%) A softer-than-expected reading could increase rate cut expectations and offer bullish momentum to gold. Stronger data, however, may renew USD strength and pressure XAU/USD lower. Resistance: $3,310 , $3,324 Support: $3,240 , $3,207
FOREXCOM:XAUUSDShort
by ATFX_Global
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
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
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