XAUUSD: 19/3 Today’s Market Analysis and Strategy

Gold technical analysis
Daily chart resistance 3060-3100, support below 2982
Four-hour chart resistance 3060, support below 3025
One-hour chart resistance 3050, support below 3030

Gold news analysis: Intensified concerns about the global trade war, new developments in geopolitical crises and expectations of the Federal Reserve's easing of monetary policy continue to drive gold's strong rise. Spot gold rose more than 1% yesterday. This marks a 15% increase in the precious metal since the beginning of the year, closing at $2,623 per ounce in December, and a 27% increase in 2024. The recent decline in the US dollar has played an important role in gold prices hitting new highs. As Deutsche Bank analysts pointed out, "Amid heightened policy uncertainty, investors continue to sell the dollar in search of so-called safe havens. The surge in gold prices is attributed to tensions in the Middle East and the ongoing trade conflict between China and the United States. These uncertainties have not only increased demand for gold, but have also driven a large amount of capital into the precious metals market, pushing gold prices to record highs.

Gold operation suggestions: From the current trend analysis, the lower support focuses on the one-hour chart 3030 and the four-hour chart support 3025. Focus on the important support of the daily level 2982. Continue to buy bullish on this position. The upper target is still focused on breaking through the new high. The daily level does not fall below the lower support before continuing to trade with the trend.

Buy: 3025near SL: 3020
Buy: 3030near SL: 3025

Welcome to check

交易進行

Now it is 3030, if you bought it, you can close half of the position and move SL to 3027