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Xauusdtrend

Moody's downgrades US credit rating, will gold be affected?Information summary: At about 4:43 pm on Friday (the last minute before the market closed), Moody's downgraded the US sovereign credit rating from AAA to Aa1 on the grounds of "surge in debt and fiscal out of control", ending the US's last "top credit" title among the three major rating agencies. Perhaps considering reducing the impact, Moody's announced this news after the US stock market closed. But at this time, gold, foreign exchange and other markets still have more than ten minutes of trading time. The 10-year US Treasury yield once rushed from 4.44% to 4.49%, the US dollar index fell, and gold rushed up. The downgrade is a super-class data, which may cause gold to rebound in stages, but not continuously. If nothing unexpected happens, after the adjustment, gold may continue to retreat in a trend. Technical analysis: Next week, gold may rebound in stages to 3330-3340. Then there may be a trend decline again, and I estimate that it may test around 2950 below. As for why it went to 3330-40, here is an analysis: I think the current gold trend is very similar to the holiday trend in Asia from May 1st to 5th. It also fell sharply, then bottomed out and rebounded, and then stretched up again. I also drew it in the picture, which is basically consistent with the current trend. If the next market trend is copied from the previous paragraph, then I think it should test the 3330-40 point.
OANDA:XAUUSD
by Quaid-1
1
Gold fluctuates greatly. What will happen next week?Gold fluctuated greatly on Thursday and Friday. It is difficult to implement an operation strategy in this market. It is difficult to go short or long. The market does not continue the next day, and there are few suitable trading opportunities in the process of changing the market. So what should gold do next week? Has the rhythm of gold changed again? The rhythm of gold has changed rapidly recently, and next Monday is actually the key; the 1-hour moving average of gold has begun to show signs of turning, so whether it can form an upward trend is the next key. The strength of gold on Monday is very important. Gold closed with a big positive line on Thursday, but it fell directly on Tuesday and pierced the support level, which cannot be said to be completely bullish. Although it rebounded slightly in the late trading, it still closed with a real big negative line. Next week, we need to pay attention to two key positions. Pay attention to $3175 below. If it falls and breaks quickly after the opening on Monday, then gold will still be weak overall; pay attention to $3215 above. If gold breaks through this point strongly and stabilizes above the point, then gold will be strong overall. If gold opens flat in early trading on Monday and the upward momentum is not strong, then you can continue to short in the short term.
OANDA:XAUUSD
by Quaid-1
Gold price rises and then sells off?Information summary: Yesterday morning, gold prices soared due to the impact of international news, hitting an intraday high of $3,253. On Friday, Asian time, gold suddenly fell rapidly in the short term, and the price of gold currently fell to around $3,215/ounce, a sharp drop of nearly $28 in the day. Gold price targets higher, but the bullish potential is limited in the short term. The focus will be on the preliminary value of the University of Michigan Consumer Confidence Index in May. Technical analysis: Looking at the daily chart, gold prices rose on Thursday, but both the high and low points of the day moved down from the previous trading day. On the other hand, the 20-day moving average eased down to around $3,305/ounce, while the 100-day and 200-day moving averages maintained an upward tilt at a level far below the current gold price. Finally, the trend of technical indicators is upward, but it is still below the previous intraday high and in the negative range, which shows that buyer sentiment is not very high. The short-term trend shows that gold buyers still lack full confidence. You need to pay attention to the important support and resistance levels: Support level: $3,200; $3,175; $3,160. Resistance level: $3,230; $3,245. Operation strategy: Buy around $3,200, stop loss at $3,190, and profit range at $3,250-3,280.
OANDA:XAUUSDShort
by Quaid-1
Gold, false decline, real wash 📊Comment analysis The recent surge and plunge of gold has also led to many different opinions on the market trend. If it rises, look at the ceiling, and if it falls, look at the floor. Most of them are such remarks, and the misleading nature of such remarks can be imagined. The first time I chased more at 3500, it was okay. After the beginning of the month, I soon got the opportunity to get out of the trap. But those who chased higher at 3400 twice last week were not so lucky. Opportunities cannot always be there, and not every time you can survive. Once you have the idea of ​​standing guard or holding on, it means you will lose. In the face of huge fluctuations in prices, short-term card points, and few positions can be grasped. You can't just rely on a rumor on the Internet to chase shorts and look at bear markets when prices fall, and chase longs and look at bull markets when prices rise. Investing and trading are two different things. Investment is a direction, focusing on large cycles, large directions, long-term, and profiting by time. Trading, on the other hand, makes money by rhythm and fluctuations, which are completely two concepts. I have always said that the general direction is bullish and the rhythm is to get on board after every retracement. The transaction is divided into short, medium and long. The short-term is limited to intraday. Whether it is right or wrong, it is settled on the same day. The medium-term wave band, after each large retracement, insist on getting on board in batches, and leave after a phased rise. For the long-term, after each large retracement, build positions in batches and hold for a long time. First, make the logic clear, and then talk about the operation. We can't achieve the lowest or highest, but as long as we achieve a relatively low or high position, it will be fine. The core of investment is the cycle, and the core of trading is the rhythm. If the rhythm is right, everything is right. In the face of the sharp rise and fall of gold, first, don't hold a heavy position, and second, as long as it is not a relatively high or relatively low chasing order, there is no need to panic. First, if you hold a heavy position, first of all, you can't withstand the fluctuations, you can only bet on the win or loss of one order, and there will be no next chance. Secondly, as long as you chase long at high positions and short at low positions, even if you have a light position, you will not have a chance to get out of the trap, and you can only make up for the loss through new transactions. There is no other way, but to achieve unity of knowledge and action, and don't think about it. Heavy positions, plus chasing back and forth, plus the world lock, will only die faster and will not get out of the trap. Take care of yourself. Let's talk about the market. First of all, the bull is still there. Secondly, the sharp drop and surge are wash-outs and adjustments, not the peak, but the base is large and the amplitude is large, so you have to reduce your position. At present, it is a large-scale range shock wash-out adjustment at the daily level, and a weekly level retracement, not the peak. It will be very clear if you look at the big cycle, and you must not listen to the rumors flying all over the sky. If it rises, chase high to see new highs, and if it falls, chase short to see new lows. It is not advisable. Again, remember one thing, grasp the relative highs and lows, let the wind and waves rise, and sit on the fishing boat steadily. After the U.S. market plummeted, it directly reversed and surged. This kind of market will not continue. Don't chase it. Don't see the plummet and then the surge, and then shout that the bottom has been reached. The plummet means the peak, and the surge means the bottom has been reached. Isn't it a life-and-death situation every day? The U.S. market directly talked about the next area. After the sell-off, gold rebounded sharply yesterday, which gave the trapped orders an opportunity to escape, not a direct reversal. Next, gold will enter a large range of shocks and washes with 3260 as resistance and 3150-3120 as support. After the shock, it will finally experience a wave of sell-offs and break the new low, and then it will bottom out. The bottoming logic is the same as the May Day period. Before May Day, gold continued to maintain above 3260 for washing. After May Day, it directly broke below 3260 and touched 3200 and then rose. Next, it will be the same. After a period of washing and shock, it will fall below the low of 3120 again, hit a new low and bottom out, and start to rise. The rhythm is like this, it depends entirely on courage, patience and technology, chasing ups and downs is not advisable. The rhythm is like this, watch more and do less, hold tight, and fasten your seat belts. ⭐️ 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 capital account - Stop loss is 1-3% of the capital account
OANDA:XAUUSDShort
by Labaron
1
Gold rebounded to the expected position, 3205 short! 📌 Driving Event The announcement of a 90-day trade truce between the world's two largest economies also helped ease recession concerns in the United States, prompting investors to reduce expectations for aggressive monetary easing by the Federal Reserve (FED). This shift supports the continued rise in U.S. Treasury yields, further suppressing demand for interest-free gold. 📊 Commentary Analysis Today, the price of gold fell to its lowest point in more than a month. It once hit the lowest level since April 10 at 3120, and then rebounded to the 3200 line, and the volatility increased again! 💰 Strategy Package Short position: Actively participate in 3200-3203 points, with a profit target around 3120 points ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose a lot size that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDShort
by Labaron
1
Gold Price Drops to Lowest Level in Over a MonthGold Price Drops to Lowest Level in Over a Month As shown on the XAU/USD chart, the price of gold fell below $3,130 this morning – its lowest level since 10 April. Since its peak in May, gold has lost more than 8% in value per ounce. Why Is Gold Falling? Bearish sentiment in the gold market may be fuelled by easing geopolitical tensions. According to media reports: → China and the US have already reported progress in reaching a trade agreement, while details of potential deals with India, Japan, and South Korea are currently being developed. → Iran is reportedly willing to sign a nuclear deal in exchange for the lifting of sanctions. In addition, Donald Trump may lift sanctions on Syria during his visit to the Middle East. → The situation between India and Pakistan has stabilised, and today, talks between Russia and Ukraine are expected to take place in Istanbul, with a potential ceasefire on the agenda. These developments could be seen as reducing the appeal of gold as a safe-haven asset. Technical Analysis of the XAU/USD Chart In our 7 May gold price analysis, we: → outlined a descending channel (marked in red); → noted that bearish pressure persisted above $3,400. Since then, the gold (XAU/USD) price has continued to move within this channel, breaking support around the $3,200 level and approaching a key support zone formed by: → the lower boundary of the red channel; → a long-term trendline (marked in blue); → a former resistance level (highlighted with arrows) at $3,140. Given these conditions, traders should consider a scenario in which a minor rebound may occur – for instance, towards the median line of the red channel. 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
Gold prices fell by more than $50. Two news will be released.At the end of the Asian session, gold accelerated its decline, with the lowest price falling to around $3,123, and plummeting more than $50 during the day. Gold prices continued to fall in the Asian session and were under pressure from multiple factors. Optimism about Sino-US trade weakened gold's safe-haven effect. In addition, reduced bets on the Fed's rate cuts and rising US Treasury yields are also not conducive to gold prices. There are two pieces of news to pay attention to in today's trading market. 1. At 8:30 a.m. US time, the U.S. Census Bureau will release April retail sales data. 2. At 8:40 a.m. US time, Federal Reserve Chairman Powell will deliver an opening speech at the second Thomas Laubach Research Conference. (This conference will focus on research on monetary policy and economics, and is expected to provide an academic perspective for the Fed's commitment to review the monetary policy framework every five years.) Trading analysis: Gold prices have just fallen below the $3,140 support level, which makes gold prices vulnerable. Some follow-up selling could push gold further towards $3,100; if it falls below this level, gold could target $3,060. On the upside, if gold prices rise back above the $3,160-3,170 area, it could face strong resistance at the Asian session high and then $3,200. Any further gains in gold prices could be seen as selling opportunities and could lose upward momentum around $3,230. This is a key level, and if it breaks through this level, a new round of short-covering could push gold prices up to $3,265 to form resistance before moving towards the $3,300 mark. Market trading is risky, and I hope you will take profits in time; make a good profit.
OANDA:XAUUSDShort
by Quaid-1
Gold price plunges suddenly. Technical analysis.Information summary: During the Asian session, gold prices suddenly plunged, and the price of gold has now hit a low of $3,148, down more than $44 from the intraday high of $3,192.78 hit earlier. Gold prices continued to fall after breaking the $3,200 support I predicted earlier, and gold prices fell to a one-month low, continuing the recent decline. The sharp reduction in tariffs between the United States and China has brought relief to global markets and led to a rebound, which has caused gold to correct and break through multiple technical levels. Technical analysis: In the short term, according to the 4-hour chart, the outlook for gold is bearish. Gold prices are trading below all of their moving averages, and the 20-period SMA has fallen below the 200-period SMA, which is located at $3,232, which will constitute an important resistance if the gold price trend recovers. Finally, technical indicators lack directional strength, but remain at negative levels, reflecting a lack of buying interest. I think traders need to pay attention to the latest important support and upward resistance levels: Support: $3140. Resistance: $3100; $3215; $3232.
OANDA:XAUUSDShort
by Quaid-1
Gold fell. How is the market?Gold fell sharply at the opening today, and the lowest point hit $3175. From the weekly line, this has already touched the weekly MA10 moving average position. Quaid believes that traders should not blindly carry out short strategies. If there is a price rebound, the rise will be very fast, and the market may not give you a chance to stop loss. From the 4H chart, we can see that gold has started a downward trend from last Friday's high of $3345. $3345-3307 is wave a. $3307-3360 is wave B. Currently, it is wave C from around $3360. However, this wave C has not ended yet. If we look at it by standard, it will be considered the end of this trend only when it goes down to around $3120. However, around $3175 is a support position. So now before it falls below $3175, gold may maintain a shock adjustment of $3200-3175. I think you need to pay attention to the short-term resistance level of $3200-3250. If it cannot be as strong as breaking, then we can still carry out a short strategy below 3200.
OANDA:XAUUSDShort
by Quaid-1
Gold fell and then rose to $3,250. Next trend?News summary: After two days of negotiations in Geneva, China and the United States announced that they would reduce tariffs on each other in the next three months: the US tariff on Chinese imports would be reduced from 145% to 30%, and China's tariff on US goods would be reduced from 125% to 10%. This news pushed global stock markets up. Boosted by the agreement, market risk appetite has increased, investors' concerns about the US recession have eased, and expectations for the Fed's aggressive rate cuts this year have also declined accordingly, which has pushed the US dollar to continue to strengthen, and gold, as a traditional safe-haven asset, has come under pressure. Technical analysis: Gold prices fell below the 21-day moving average on Monday, when the average was at $3,313, further increasing downside risks. The 14-day relative strength index also fell below the midline for the first time since early April, sending a bearish signal. Buyers are trying to regain control of the situation. Traders need to pay attention to the release of US CPI data. I think if the US CPI data is higher than expected, gold prices may start a new round of decline, with the target being $3,145 near the 50-day moving average. The important support level below is $3,100. On the contrary, if the CPI data is lower than expected, gold prices are expected to re-enter the 21-day SMA, which is currently $3,311. Once this resistance is broken, it will test the trend line resistance at $3,430. If it breaks further, the trend will open up space for gold prices to hit the historical high of $3,500.
OANDA:XAUUSD
by Quaid-1
Gold 3200 Life and Death Battle!Gold stabilized after touching the support of the 3193-3202 rising trend line. Although the US market rebounded, it did not form an effective breakthrough. In the short term, it is still dominated by shorts. Short-term strategy: Before 3200 is broken, you can go long on dips. If it falls below, stop the loss decisively, and use a small stop loss to game the potential bull reversal. Whether the 3250 pressure is broken or not determines the short-term direction
TVC:GOLD
by MabelLew
Tariff easing has just begun 📌 Driving factors The historic easing of tariffs between China and the United States, the imminent peace talks between Russia and Ukraine, the ceasefire between India and Pakistan, and the market's pricing of geopolitical risks have obviously cooled down, which has further shrunk the demand for gold as a regional safe-haven tool. The situation in the Middle East is complicated, and it is necessary to monitor the latest developments in real time, focus on the latest developments in the follow-up news, and adjust strategies in real time. 📊Comment analysis In the Asian session, gold is concerned about the upper resistance at $3,250 today. The rebound relies on the resistance below to continue shorting. The lower point is $3,207. If it falls below, it will be $3,150. For specific operations, please pay attention to the free channel. 💰Strategy Package Long position: Actively participate at 3200 points, with a profit target of around 3230 points Short position: Actively participate at around 3245 points, with a profit target of around 3220 points Labaron believes Guaranteeing the principal is the bottom line for survival, controlling risks is the armor for survival, earning profits is a stage medal, and long-term stable and continuous profits are the only proof of being able to stand up from the mountains of corpses and seas of blood.
OANDA:XAUUSDShort
by Labaron
Gold’s 3200 mark is the key!Due to the ceasefire between India and Pakistan and the easing of the Sino-US trade war, gold opened directly and fell below 3280 and 3260 successively, so the decline of gold will continue. From the gold hourly chart, the focus below is on the 3200 integer mark. If it falls below 3200 and cannot effectively stabilize, then gold will have a big double top here, and the next decline will extend to around the 3000 integer mark. On the contrary, if the 3200 mark is not broken, then the bulls will fight back, at least they will fill the gap again So in terms of operation, it is not recommended to chase the short now. If you want to go long on gold, you can wait for it to fall back to the 3200-3210 area and stabilize before buying
TVC:GOLDShort
by MabelLew
Focus on shorting opportunities near 3250 in the US market 📌 Gold drivers After two days of trade talks in Switzerland, the United States and China announced "substantial progress", marking a possible turning point in efforts to ease tensions between the world's two largest economies. Chinese Vice Premier He Lifeng called the talks an "important first step" toward stabilizing bilateral trade, and U.S. Treasury Secretary Scott Bessant expressed the same view, noting that the talks had made meaningful progress. The United States is expected to release more details on the results of the negotiations on Monday. As the United States and China announced an agreement to cut reciprocal tariffs, the dollar strengthened, weakening the appeal of gold as a safe-haven asset. Spot gold fell 3% on Monday to a low of more than a week, hitting a low of $3,208 during the day, the lowest level since May 1, and the day's decline had reached $100. At the same time, the U.S. dollar index rose by more than 1%, making gold more expensive for holders of other currencies. 📊Comment Analysis Gold still has room to go down, and the strength of gold bears is still there. Gold rebounded twice in the US market and fell back under pressure near 3250. 💰Strategy Package At present, the US market still has a demand for a pullback, and the long position near 3220 can now be closed for profit. For the US market, we should first look at the area around 3250. After the pullback is in place, continue to play short orders to look at the target position of 3200. If it breaks upward, find a new point layout. This week's data market and news will have a further impact on gold. For real-time layout of accurate trading signals, please follow the free channel. ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDShort
by Labaron
1
GOLD → sideways fluctuations. Will it break the resistance levelNews summary: US President Trump announced a trade agreement with the UK, which raised hopes of reaching such an agreement with other countries, eased market tensions, suppressed gold's safe-haven buying, and the rise in the US dollar, US stocks and US bond yields also suppressed gold prices. US Treasury Secretary Bensont and Trade Representative Greer will talk with China's top economic officials in Switzerland in the near future. Quaid reminds everyone that market concerns have not completely dissipated, and it is necessary to pay attention to the support of bargain hunting. The European Commission said earlier that if negotiations with Washington fail to cancel a series of tariffs imposed by US President Trump, the EU is considering taking countermeasures against US imports worth up to 95 billion euros. Close attention needs to be paid to news related to the international trade situation and changes in market sentiment during this trading day. Support level analysis: 3310-3300 US dollars/ounce: 3300 US dollars is a psychological barrier and technical support for the confirmation of the previous price retracement. If it falls below 3300, it may fall to the 3280 US dollar area. Resistance level analysis: 3360-3375 USD/ounce: Gold is currently above the convergence and oscillation range. 3360-3375 USD is the high pressure level of the previous day's box consolidation. If it breaks through this position strongly, the upward space will open up. Technical analysis: Gold is in a high-level oscillation and convergence range. The 4-hour MACD indicator shows that the short-selling momentum is weakening, but the hourly chart shows that the price is still constrained by the downward trend line. If gold prices stabilize at $3,300, it may trigger a rebound to $3,350-3,360; if it falls below $3,280, it may accelerate the downward trend. if it falls below 3280 USD, it may accelerate the downward trend. Operation strategy: Bull strategy: Long at 3315-3325 USD, stop loss at 3305 USD, target position at 3350-3360 USD. Short strategy: short at $3365-3375, stop loss at $3380, target position at $3330-3300.
OANDA:XAUUSD
by Quaid-1
GOLD→Beware of market reversal? News is coming soon.At the end of the Asian session, the US dollar index was around 100.05. Gold rebounded after the plunge, and the current gold price is around $3,320/ounce. Investors will see a large number of speeches by Fed officials, among which Williams' remarks are the most watched and are expected to trigger a big market trend. Today's major news: New York Fed President Williams will deliver a keynote speech at the 2025 Reykjavik Economic Conference. Later, Williams will speak at the Hoover Monetary Policy Conference. I think if Williams makes hawkish remarks, it may push the dollar stronger, thereby suppressing gold prices. Williams also serves as vice chairman of the Federal Open Market Committee and has permanent voting rights like the Fed governors. In terms of monetary policy, Weems has the most say after Chairman Powell. Williams also served as chairman of the San Francisco Fed for nearly 7 years. There are also several events taking place today: Fed Governor Kugler will speak on maximizing employment; North Richmond Fed President Barkin will participate in a fireside chat; Chicago Fed President Goolsbee will deliver a welcome and opening speech at a Fed event. Gold price trend forecast: I think its price may fall further to $3,200-3,100/ounce in the next few weeks. I hope my analysis can help you, and I wish you good luck.
OANDA:XAUUSDShort
by Quaid-1
Gold price fell after a surge? Continue the downward trend?Analysis of gold market trend: Gold price surged in the morning of Asian session, but then fell to around $3,315. Market situation analysis shows that gold price continued the trend of yesterday in Asian time, rising rapidly in the morning, and then began to decline. It fell to $3,275 in the morning, and then rose to today's high of $3,330. From the perspective of the gold hourly line, it began to rise after a brief decline in the morning of Asian session, effectively breaking through the resistance level of 3,315 and rising to a high of $3,330 for a short time. Then a downward trend appeared. This high-level fluctuation shows that the market is in a big wash and is brewing a new trend. I think the downward space may be around $3,300. Operation strategy: Short around $3,320, stop loss at $3,330, and take profit at $3,300.
OANDA:XAUUSDShort
by Quaid-1
Gold prices pulled back. Will prices continue to fall?Latest news: Trump announced a trade deal with the UK, which boosted market risk appetite; coupled with a sharp rise in the US dollar and US bond yields, gold prices plummeted in the Asian morning trading session. US President Trump and British Prime Minister Starmer announced a "breakthrough agreement" on trade, which made market traders predict that the United States would also reach such an agreement with other countries. This prediction has made market buyers lose motivation. Quaid believes that if the United States and China reach an agreement, gold prices will face great resistance to rise, and gold prices should fall back to $3,200/ounce. Market trading analysis: The upward trend of gold paused and started a sharp decline. As described by the RSI, buyers are losing momentum. This is not good for gold, and the price has now fallen below $3,300/ounce. Quaid believes that it will continue to fall and may fall to the cycle low of $3,202/ounce. Short-term trading strategy: Short at 3280, stop loss at 3290, and take profit at 3260. Quaid believes that if the price of gold falls below the downward resistance level of 3275, you can continue to hold your position and choose the right time to trade.
OANDA:XAUUSDShort
by Quaid-1
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.
OANDA:XAUUSD
by Quaid-1
1
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.
OANDA:XAUUSD
by Quaid-1
1